Jefferies Financial's second-quarter profit surged nearly twelve-fold, driven by a rebound in dealmaking activities. The bank reported higher fees from advising on deals and underwriting stock and bond sales. Investment-banking revenue surged, and debt underwriting more than doubled, indicating improved prospects for banks. The revenue beat was driven by trading, equity capital markets (ECM), and debt capital markets (DCM). Additionally, Jefferies provided a positive outlook for the second half of 2024 and 2025, and its dividend increased by 17%. The strong performance, which beat estimates, has triggered a boost in Jefferies' share price and optimism across Wall Street.
Investment bank Jefferies posted a sizable jump in some key businesses, triggering a boost in its share price and some likely optimism across Wall Street https://t.co/McpHpSuolg
$JEF.N: Revenue beat driven by trading, ECM and DCM. Positive forward commentary on 2H24/2025 investment banking outlook bodes well for all capital markets plays. Div up 17%. $MS $GS $BAC
Jefferies Q2 profit beats estimates on dealmaking rebound https://t.co/MhpESbdOqw https://t.co/aYtdCI6ZeZ
Jefferies' earnings climbed as investment-banking revenue surged and debt underwriting more than doubled, a sign prospects for banks have brightened https://t.co/p06p3i0ZbV
Jefferies Q2 profit surges on dealmaking rebound https://t.co/wZerKfjDHx https://t.co/pAgWEWpR5G
🔵 JEFFERIES Q2 PROFIT SURGES ON DEALMAKING REBOUND Jefferies Financial's second-quarter profit jumped nearly twelve-fold as it earned higher fees from advising on deals as well as underwriting stock and bond sales, the bank said on Wednesday. Full Story via Reuters on PiQ…