Jefferies Revenue Rises as Equities Gains Counter Bond Slump
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Jefferies Group said second-quarter net revenue increased 9.5 percent from a year earlier as gains in its advisory and capital markets business helped counter a 30 percent decline in bond trading.
Net revenue climbed to $791.6 million in the period ended May 31, led by investment banking, which rose 22 percent to $404.3 million from a year earlier, the New York-based company, which is owned by Leucadia National Corp., said Tuesday in a statement. Revenue from equities trading increased 29 percent to $228.2 million, while fixed-income revenue slid to $154.4 million from $217.7 million.