Jefferies quarterly profit jumps on deal surge, equities trading strength
JEF•Jefferies’ third-quarter profit rose to $260.6 million, or $1.08 per share, as investment banking revenue increased 17% to $1.33 billion and capital markets revenue rose 11% to $802 million.
1. Profit and revenue rise
Profit attributable to Jefferies shareholders was $260.6 million, or $1.08 per share, in the three months ended August 31, compared with $224 million, or $1.01 per share, a year earlier. Investment banking revenue jumped 17% to $1.33 billion, supported by a record quarter for its advisory business, while equity underwriting revenue surged 69%.
2. Trading and outlook
Capital markets revenue, which includes trading desks, rose 11% to $802 million, driven by record equities trading performance. Asset management fees and investment return revenue fell to $34 million from $84 million a year earlier. CEO Richard Handler and President Brian Friedman said they were “very optimistic” about the balance of 2026 and momentum heading into 2027, citing the breadth and strength of their backlog and new business activity.
3. Industry context
Global dealmaking has crossed $4 trillion this year. Jefferies rose to sixth place in global investment banking revenue rankings so far this year, from eighth in the year-ago period.
