Jefferies reports record investment-banking revenue but weaker fixed-income trading
Jefferies ($JEF) reported quarterly net revenue of $2.22 billion and earnings attributable to common shareholders of approximately $261 million. Diluted earnings per voting common share were $1.08. Investment-banking revenue increased 17% to $1.33 billion, with advisory activity and equity underwriting driving the expansion. Equities revenue rose 29% to $626 million, extending the firm’s gains in trading and prime services. The performance was uneven across businesses. Fixed-income revenue decli
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