By David Thomas

April 29 (Reuters) - New survey data released on Wednesday by Wells Fargo showed double-digit revenue growth by large U.S. law firms during the first quarter of 2026, following major gains last year.

The report by Wells Fargo's Legal Specialty Group included average revenue and other financial results across more than 100 law firms, including 64 of the highest grossing firms in the United States.

• Law firm revenues during the first quarter of the year increased 13.1% on average, up from an 11.3% increase during the same period last year.

• Law firm billing rates – a key revenue driver – increased by an average of 11.4% among surveyed firms last quarter.

• Demand for legal services was up 4.5%, a major increase compared to the 1.7% demand growth Wells Fargo reported in its first-quarter survey last year.

• Law firm expenses increased by 9.7%, a slight decrease compared to the 9.9% growth Wells Fargo found last year.

• Attorney headcount increased 3.3% in the first quarter, another slight decrease compared to 2025's first quarter.

• The first quarter gains followed average revenue increases of 12.6% in 2025, according to Wells Fargo's data.