Investing
Jefferies quarterly profit falls as dealmaking in doldrums
© Reuters. FILE PHOTO: People walk outside of Jefferies Financial Group offices in Manhattan, New York, U.S., December 8, 2021. REUTERS/Eduardo Munoz
(Reuters) -Jefferies Financial Group Inc’s second-quarter profit slumped 89% as subdued dealmaking weighed on its advisory fees, the investment bank said on Tuesday.
Total net revenue dropped 22% to $1.04 billion.
Shares in the bank fell 5% in extended trading.
The New York-based financial institution’s results are often viewed as a prelude to earnings from Wall Street titans such as JPMorgan Chase & Co (NYSE:), Goldman Sachs Group Inc (NYSE:) and Morgan Stanley (NYSE:).
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