Raymond James Financial, Inc. (RJF) has reported an increase in its first-quarter profit, surpassing analysts' expectations and reflecting a significant improvement from the previous year. The company posted a profit of $599 million, equating to an earnings per share (EPS) of $2.86, compared to $497 million, or $2.32 per share, recorded last year.
Excluding special items, the adjusted earnings for Raymond James Financial reached $614 million, or $2.93 per share during this period. This performance exceeded the average analyst forecast, which anticipated earnings of $2.69 per share, typically excluding any special items.
Revenue for the quarter saw a substantial 14.6% increase, climbing to $4.035 billion from $3.520 billion in the prior year.
Overview of Raymond James Financial, Inc. earnings according to GAAP standards:
- Earnings: $599 million, up from $497 million last year.
- EPS: $2.86, up from $2.32 in the previous year.
- Revenue: $4.035 billion, up from $3.520 billion last year.
