By Dean Seal
Jefferies Financial Group logged a huge jump in fourth-quarter earnings with major revenue gains across its investment-banking, capital-markets and asset-management divisions.
The investment bank posted a profit of $205.7 million for the three months ended Nov. 30, compared with $65.6 million in the same quarter a year ago.
Earnings were 93 cents a share, below the consensus estimate of 97 cents a share from analysts surveyed by FactSet.
Revenue surged 63%, to $1.96 billion, topping analyst projections for $1.83 billion, according to FactSet.
The company said investment-banking revenue was up 73% for the quarter, at $986.8 million, while capital-markets revenue was up by more than a third from a strong showing in its equities and fixed-income divisions.
Higher fees and strong investment returns, meanwhile, doubled revenue for the company's asset-management business.
Chief Executive Richard Handler said normalizing market conditions and the maturation of Jefferies's platform have generated stronger operating margins.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 08, 2025 16:34 ET (21:34 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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