Jefferies Q3 net earnings climb 16% to $260.58 million; net revenues rise 9% to $2.22 billion
JEF•Jefferies Financial Group reported third-quarter net earnings attributable to common shareholders of $260.58 million, up 16% year over year, and net revenues of $2.22 billion, up 9%. Diluted earnings per share rose 7% to $1.08.
1. Revenue and earnings
Investment banking net revenues climbed 17% to $1.33 billion, while capital markets net revenues increased 11% to $802.18 million. Asset management net revenues fell 52% to $85.64 million, with management citing weaker performance across several fund strategies.
2. Capital returns
Jefferies declared a quarterly cash dividend of $0.40 and repurchased 1.3 million shares for $70 million at an average price of $52.34.
