Originally published at www.seclive.com
Jefferies Group LLC (JEF) announced its financial results for the second quarter of fiscal year 2014, reporting a year-over-year rise in revenue. The global investment banking firm posted net revenues of $723M, up from $658M last year. Investment banking and interest income contributed the most to revenue improvement, from $277.1M to $331.1M and $258.7M to $283.5M respectively. Earnings jumped from $40.2M in the year-ago quarter to $61.8M this quarter. Chairman and CEO Richard Handler commented that the company exceeded its own expectations, with investment banking leading the way. Handler believes that the company's strategy and gains in market share reflect well on the company's performance and forward path to increased growth and profitability.
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