Jefferies Financial Group Reports Record Revenues and Net Income

Jefferies Financial Group, a leading financial services provider in the US, announced its financial results yesterday for the three and six months ended 31 May 2021. The Group saw a strong performance with a significant jump in revenue and net income.

According to an official announcement by the Group, net income attributable to common shareholders reached $935 million for the six months ended 31 May 2021. Additionally, the Board of Directors of the Group announced a quarterly cash dividend equal to $0.25 per Jefferies common share.

For the three months ended 31 May 2021, Jefferies Group LLC reported record net revenues of $1,617 million, which is 56% higher compared to the same period last year. In terms of income, Jefferies Group LLC recorded a pre-tax income of $429 million.

In a joint statement, Rich Handler, CEO of Jefferies Group, and Brian Friedman, President of Jefferies Group, said: “We would like to thank our colleagues and clients for Jefferies' spectacular results thus far in 2021. Our performance reflects the continued growth and strength of our global full-service business model and our increasing market share, particularly in Investment Banking, where net revenues for the first half of the year were more than $2 billion and our backlog for the third quarter is at a record level. Additionally, our Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, Fixed Income and Asset Management businesses all are performing well, even as the environment becomes more normalized relative to the uniquely exceptional first quarter.”

Investment Banking

For the six months ended 31 May 2021, Jefferies Group LLC reported net revenues of $3,747 million. Investment banking remained the best performing division with record net revenues of $2,067 million. “We are strategically hiring at all levels, and we see this as a key driver of continuing growth. This is evident particularly in Investment Banking, as our capabilities, reach and brand are proving extremely scalable,” Rich Handler and Brian Friedman added in the official press release.