Jefferies' profit jumps on investment banking windfall

Business and Finance Business and Finance

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Jefferies' profit jumps on investment banking windfall

^{Published on 2025-01-08 17:20:48 - Reuters}

Jefferies Financial's profit more than tripled in the fourth quarter as the investment bank earned higher fees from advising on deals and underwriting activity remained strong, it reported on Wednesday.

Jefferies Financial Group Inc. reported a more than tripling of its quarterly profit, driven by a significant windfall in its investment banking sector. The company's net earnings for the first quarter ending November 30, 2024, reached $171.5 million, or 78 cents per share, up from $54.6 million, or 23 cents per share, in the same period the previous year. This surge was primarily fueled by a 31% increase in investment banking revenue, which amounted to $896.3 million, attributed to heightened deal-making activities. Despite a slight decrease in capital markets revenue, the overall performance was bolstered by a robust performance in advisory services, equity and debt underwriting, and a notable increase in asset management fees. However, the company also noted a rise in non-interest expenses due to higher compensation costs linked to the revenue increase.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/jefferies-profit-more-than-triples-investment-banking-windfall-2025-01-08/ ]

N@N

Jefferies' profit jumps on investment banking windfall