Law firms with a large Washington, D.C., presence ended 2022 on solid financial footing, with most recording modest revenue increases from the prior year despite uncertainty about the U.S. economy. However, several D.C. law firms saw dives in profits, due to rising expenses and slower demand.

Looking forward, several law firms have expressed optimism that the upcoming fiscal year will be even better, as firms grow practices tied to regulatory work and government investigations. Firms, meanwhile, are still dealing with rate resistance from clients.