Jefferies Profit Tumbles as Deal Slump Persists

Jefferies Financial Group offices in New York.
Photographer: Jeenah Moon/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Paige Smith

January 9, 2023 at 9:49 PM UTC

Updated on

January 9, 2023 at 11:34 PM UTC

This article is for subscribers only.

Jefferies Financial Group Inc. said profit fell 57% in the fiscal fourth quarter, amid a persistent deal slump that looks poised to crimp a key profit engine across Wall Street.

Total investment banking revenue declined about 52% to $568.5 million in the period ended Nov. 30, the New York-based firm said Monday in a statement. That exceeded the $550.4 million average estimate of analysts in a Bloomberg survey.