Raymond James profit gains 27% on record revenue
Updates with CEO comment in paragraph 3, investment banking detail in paragraph 4, private client business in paragraphs 5-6
By Makailah Gause
July 24 (Reuters) -Raymond James Financial's RJF.N profit rose 27% in its third fiscal quarter fueled by record revenue, client assets and bank loans, it reported on Wednesday.
The investment banking and brokerage firm said adjusted net income available to common stockholders increased to $508 million, or $2.39 per share, from $399 million, or $1.85 per share, a year earlier.
"We generated another strong quarter," CEO Paul Reilly said in a statement, citing the record revenue. “We continue to be optimistic about our healthy M&A (mergers and acquisitions) pipeline and new business activity; however, timing of closings remains difficult to predict,” he added.
Investment banking revenue jumped 23% from the previous year, but only gained 1% from the second quarter, buoyed by higher debt and equity underwriting revenue, while revenue from M&A dropped.
In its private client group, net new assets climbed to $16.5 billion, growing 5%, and the company was focused on attracting and retaining financial advisers.
"Recruiting activity remains strong," Reilly said.
Reporting by Makailah Gause, Editing by Lananh Nguyen and Diane Craft
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料，僅適用於教育/資訊類用途，不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議，或是交易價格紀錄，或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容，包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接，皆爲‘按原狀’，並作爲一般市場評論所提供，而非投資建議。請理解和接受，所有被歸類為投資研究範圍的相關内容，並非爲了促進投資研究獨立性，而根據法律要求所編寫，而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊，相關詳情請點擊 這裡查看。
