BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Jefferies Financial Group Reports Record Quarterly Earnings Amid Wall Street Deal Resurgence
Jefferies Financial Group Reports Record Quarterly Earnings Amid Wall Street Deal Resurgence
10
2
BTCCSquare news:
Jefferies Financial Group (JEF) posted a 34% year-over-year profit surge, with earnings per share reaching $1.01—outpacing analyst expectations of $0.80. The boutique investment bank attributed its record $2.05 billion quarterly revenue to a revival in mergers, acquisitions, and IPOs.
Investment banking advisory revenue soared to $656 million, marking an all-time high for the firm. CEO Richard Handler highlighted the rebound from last quarter's underperformance, crediting the advisory division's deal FLOW for driving growth. "The environment for mergers has materially improved," management noted in their earnings release.
By:
