Jefferies third-quarter profit jumps on strong M&A, debt underwriting [Yahoo! Finance Canada]
Jefferies Financial Group Inc. (JEF)
Last jefferies financial group inc. earnings: 10/25 04:42 pm
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Source: Yahoo! Finance Canada
(Reuters) - Investment bank Jefferies Financial's reported third-quarter profit on Wednesday that jumped more than three-fold, on the back of a busier environment for dealmaking and debt sales. The bank's results underscore the strong recovery in mergers and acquisitions, as hopes of a resilient economy prompt corporate executives to pursue takeovers. Buyers are also taking on more debt to finance their acquisitions, allowing underwriters to pocket bigger fees on bond sales. The bank's results are often viewed as a prelude to earnings at Wall Street titans such as JPMorgan Chase, Goldman Sachs and Morgan Stanley. Jefferies' investment banking revenue soared 47% year-over-year to $949 million. Capital markets revenue jumped nearly 28% to $670.6 million, helped by equities. Net revenue in the asset management arm also jumped to $59.0 million from $10.1 million a year earlier. The New York-based bank's net profit attributable to common shareholders was $167.1 million, or 75
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JEF
News
- RWE Chief Sparks Hopes for Share Buyback, Jefferies Says [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Blackstone Expects Profits From Exiting Deals to be Muted in Q3 [Yahoo! Finance]Yahoo! Finance
- Adrian Cheng, member of one of Asia's richest families, resigns as New World CEO after the Hong Kong developer posts $2.2 billion loss [Fortune]Fortune
- Wall Street just got another sign that dealmaking is on its way back [Yahoo! Finance Canada]Yahoo! Finance Canada
- Jefferies Announces Third Quarter 2024 Financial ResultsBusiness Wire
JEF
Earnings
- 9/25/24 - Miss
JEF
Sec Filings
- 9/26/24 - Form 424B2
- 9/26/24 - Form 424B2
- 9/26/24 - Form 424B2
- JEF's page on the SEC website