Jefferies Q2 net profit doubles year-on-year, boosted by strong M&A activity and equity market performance

Glonghui, June 25 — Jefferies reported second-quarter net revenue of $2.21 billion, a year-on-year increase of 35%, falling short of analysts' expectations of $2.3 billion. Net profit attributable to common shareholders was $226 million, or $1.02 per share, compared to $88 million, or $0.40 per share, in the same period last year. During the period, combined net revenue from advisory and underwriting businesses reached $1.2 billion, up 53% year-on-year, marking the best quarterly performance in history.