Finance
Jefferies Profit Soars as Investment-Banking Momentum Builds
- CEO says he’s ‘increasingly optimistic’ about the second half
- Results are a good sign for bigger banks reporting next month
Jefferies headquarters in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Jefferies Financial Group Inc.’s earnings climbed as investment-banking revenue surged and debt underwriting more than doubled, adding to signs of brightening prospects for the biggest US banks.
Fiscal second-quarter investment-banking revenue jumped 59% in the three months through May, the New York-based firm said Wednesday in a statement. Earnings totaled $145.7 million, or 64 cents a share, up from $12.4 million or 5 cents, a year earlier.