NEW YORK - Jefferies Financial Group Inc. has reported a significant decrease in its earnings and revenue, highlighting the challenges faced in the current economic climate. The investment bank's earnings per share (EPS) dropped to $0.29, down from $0.57 the previous year, falling short of analyst expectations.
The company's quarterly revenue also declined, reaching $1.2 billion, which is a 16.8% decrease from the same period last year and below the anticipated $1.236 billion.
The firm's Investment Banking division generated $577 million, while its Capital Markets segment contributed $481 million in net revenues. Despite these figures and the broader economic headwinds, Jefferies' shares have recently managed to outperform the S&P 500, indicating some resilience amidst market fluctuations.
This performance comes at a time when many financial institutions are grappling with market volatility and economic uncertainty.
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