By Connor Hart
Shares of Jefferies Financial Group fell in their first trading session since the investment bank reported fourth-quarter earnings that missed analyst expectations.
The stock was down 12%, to $70.45, in recent trading Friday. Shares have gained more than 78% in the last 52 weeks.
After the bell Wednesday, the New York company posted earnings of 93 cents a share, below the 97 cents a share that analysts polled by FactSet expected. In last year's comparable quarter, it reported per-share earnings of 29 cents.
Investment-banking revenue surged 73%, to $986.8 million, but was weaker than expected, hurt by lower equity underwriting, UBS analysts said in a research note. Advisory revenues jumped 91% year-over-year, to $596.7 million, but missed UBS analyst projections of $609 million.
Total revenue gained 63%, to $1.96 billion, topping analyst projections for $1.83 billion, according to FactSet.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 10, 2025 13:13 ET (18:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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