Jefferies Financial posted $1.02 EPS and $2.21 billion revenue, missing analyst expectations of $1.16 and $2.22 billion.
Jefferies Financial reported fiscal second-quarter earnings of $226 million, or $1.02 per share, up 5% year over year but below the $1.16 estimate. Revenue rose 37% to $2.21 billion, falling short of the $2.22 billion forecast.
The results, released June 24, precede earnings from larger banks like JPMorgan Chase and Goldman Sachs. Jefferies’ quarter ends May 31, a month earlier than peers, offering an early read on sector performance.
Shares dropped 8% on June 25 following the miss, driven by weaker-than-expected asset management performance.