Raymond James Surges After Profit Beats Analysts’ Estimates

Thursday, 20 Jan 2011 12:25 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Raymond James Financial Inc., the Florida brokerage with 2,300 U.S. offices, rose the most since October 2009 in New York trading after its quarterly profit beat analysts’ estimates.

The shares advanced $2.38, or 7.1 percent, to $35.98 at 10:19 a.m. in New York. The stock was the biggest gainer in the Standard and Poor’s Midcap Financials Index.

Fiscal first-quarter net income jumped 90 percent to $81.7 million, or 65 cents a share, from $42.9 million, or 35 cents, in the year-earlier period, the St. Petersburg-based firm said in a statement after yesterday’s close of trading. That compares with the 53-cent average estimate of seven analysts surveyed by Bloomberg. Net revenue for the three months that ended Dec. 31 increased 18 percent to $814 million.

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved