Jefferies Achieves Record Net Revenues in Q1 of Fiscal 2020
- Jefferies achieved total net revenues of $1.17 billion for the three month period.
Jefferies Financial Group Inc., an investment banking company, has published its financial results for the first quarter of its 2020 financial year on Thursday, revealing a solid uptick in revenues for the three-month period.
According to a regulatory filing with the Securities and Exchange Commission (SEC), for the three months ended February 29, 2020, Jefferies achieved total net revenues of $1.17 billion, a record for the Group.
This represents a significant growth on a yearly comparison, as the same quarter of the prior year had total net revenues of $685.72 million. Therefore, revenues increased by 70.7 percent. Quarter-on-quarter, revenues increased by 56.5 percent.
Taking a look at investment banking revenues, the unit also achieved record quarterly revenues, coming in at $577.5 million. This represents a significant yearly growth of 107.8 percent. Investment banking revenues were also higher by 46.9 percent from the previous quarter.
Fixed income and equities revenue grows 33%
For the first quarter of fiscal 2020, Jefferies posted a total equities and fixed income net revenues of $493.8 million. When measuring this against the first quarter of fiscal 2019, the company has achieved a growth of approximately 33.0 percent, having risen from $371.3 million in Q1 of the company's 2019 financial year.
Commenting on the results, Rich Handler, the CEO, and Brian Friedman, the President, said in the filing: "Jefferies Group's all-time quarterly record net revenues of $1.17 billion and return on tangible equity of 16.1%1 demonstrate the Scalability Scalability Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Read this Term, operating Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term and opportunity of our business.
"For years, we have invested and believed in the capacity of our team and operations, as well as the uniqueness of our culture and business model, and are gratified by these results. We had determined that 2020 would be a year in which we would seek to realize on the potential and capabilities of our Investment Banking, Equities, Fixed Income and Asset Management platforms, and these first quarter results demonstrate our considerable progress."
"Our first quarter also reflects record performance in mergers, acquisitions and advisory, solid results in equity underwriting and better performance in debt underwriting, with broad contribution from our sector teams and regional presence. Our Equities and Fixed Income results were strong and we believe consistent with our continually enhanced market position."
Jefferies Financial Group Inc., an investment banking company, has published its financial results for the first quarter of its 2020 financial year on Thursday, revealing a solid uptick in revenues for the three-month period.
According to a regulatory filing with the Securities and Exchange Commission (SEC), for the three months ended February 29, 2020, Jefferies achieved total net revenues of $1.17 billion, a record for the Group.
This represents a significant growth on a yearly comparison, as the same quarter of the prior year had total net revenues of $685.72 million. Therefore, revenues increased by 70.7 percent. Quarter-on-quarter, revenues increased by 56.5 percent.
Taking a look at investment banking revenues, the unit also achieved record quarterly revenues, coming in at $577.5 million. This represents a significant yearly growth of 107.8 percent. Investment banking revenues were also higher by 46.9 percent from the previous quarter.
Fixed income and equities revenue grows 33%
For the first quarter of fiscal 2020, Jefferies posted a total equities and fixed income net revenues of $493.8 million. When measuring this against the first quarter of fiscal 2019, the company has achieved a growth of approximately 33.0 percent, having risen from $371.3 million in Q1 of the company's 2019 financial year.
Commenting on the results, Rich Handler, the CEO, and Brian Friedman, the President, said in the filing: "Jefferies Group's all-time quarterly record net revenues of $1.17 billion and return on tangible equity of 16.1%1 demonstrate the Scalability Scalability Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Scalability is a term that describes the constraints of a network via hash rates to meet increased demand. In the context of Bitcoin, scalability reflects the issue in which a limited rate can process transactions adequately.Blocks within the Bitcoin blockchain are limited in both size and frequency. The overall transaction processing capacity of the network is dictated by the average block creation time of 10 minutes as well as a block size limit of 1 megabyte. Consequently, this leads to pain Read this Term, operating Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term and opportunity of our business.
"For years, we have invested and believed in the capacity of our team and operations, as well as the uniqueness of our culture and business model, and are gratified by these results. We had determined that 2020 would be a year in which we would seek to realize on the potential and capabilities of our Investment Banking, Equities, Fixed Income and Asset Management platforms, and these first quarter results demonstrate our considerable progress."
"Our first quarter also reflects record performance in mergers, acquisitions and advisory, solid results in equity underwriting and better performance in debt underwriting, with broad contribution from our sector teams and regional presence. Our Equities and Fixed Income results were strong and we believe consistent with our continually enhanced market position."