Raymond James Financial, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017
January 24, 2018 at 04:55 pm EST
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Raymond James Financial, Inc. announced unaudited consolidated earnings results for the first quarter ended December 31, 2017. For the quarter, the company reported net revenues of $1,726,161,000 compared to $1,492,802,000 a year ago. Pre-tax income was $311,243,000 compared to $206,379,000 a year ago. Net income attributable to the company was $118,842,000 or $0.80 per diluted share compared to $146,567,000 or $1.00 per diluted share a year ago. Total revenues were $1,765,592,000 compared to $1,528,768,000 a year ago. Adjusted pre-tax income was $315,170,000 compared to $249,045,000 a year ago. Adjusted net income was $238,838,000 or $1.61 per diluted share compared to $176,868,000 or $1.21 per diluted share a year ago. Book value per share was $39.25 compared to $35.55 a year ago. Tangible book value per share was $34.94 compared to $32.26 a year ago. Return on equity - quarter (annualized) was 8.4% compared to 11.7% a year ago. Adjusted return on equity was 16.8% compared to 14.0% a year ago.
Raymond James Financial, Inc. specializes in financial services. Revenues (including intragroup) by activity break down as follows:
- investment services (76.9%): securities brokerage, stock exchange intermediation, intervention on equity, interest rate and foreign exchange markets, derivatives, trading services, etc. for private and institutional clients;
- retail banking and merchant banking (15.7%);
- asset management (6.9%): USD 196.4 billion in assets under management at the end of September 2023;
- other (0.5%).
Revenues are distributed geographically as follows: the United States (91.3%), Canada (4.9%) and Europe (3.8%).