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Investing.com -- Shares of Jefferies Financial Group (NYSE:JEF) fell 4.7% in after-hours trading on Wednesday after the investment bank reported first-quarter results that fell short of analyst expectations.
Jefferies posted earnings per share of $0.57 for the quarter ended February 28, 2025, significantly below the $1.02 consensus estimate. Revenue came in at $1.59 billion, also missing the $1.93 billion analysts were expecting.
The company’s net earnings attributable to common shareholders declined to $127.8 million from $149.6 million in the same quarter last year.
Investment banking net revenues totaled $700.7 million, down 3.6% YoY. While advisory revenues rose 17% to $397.8 million, equity underwriting fell 39% to $128.5 million.
"Our first quarter results reflect strength in Advisory, Debt underwriting and Equities offset by a meaningful decline in asset management investment return compared to the prior year quarter," said CEO Richard Handler and President Brian Friedman in a statement.
They added that capital markets have become "increasingly more challenging due to the uncertainties that have arisen around U.S. policy and geopolitical events."
The company maintained its quarterly dividend of $0.40 per share, payable on May 29, 2025 to shareholders of record as of May 19, 2025.
Jefferies’ book value per share stood at $49.48 at quarter-end, up from $46.13 a year ago. The company had 206.3 million common shares outstanding as of February 28, 2025.