Reported about 20 hours ago
Jefferies Financial Group Inc. reported a significant profit increase in the fourth quarter, attributed to a resurgence in mergers and acquisitions and substantial growth in equity-trading revenue. The company's net income more than tripled, bolstered by a 73% rise in investment-banking fees and a record 91% increase in advisory revenue. This performance indicates a potential end to the multi-year dealmaking slump characterized by high interest rates and geopolitical tensions, leading to improved market conditions and increased activity in investment banking.
Source: YAHOO