Jefferies Sees Higher Fourth-Quarter Earnings
Jefferies Group reported a stronger adjusted fourth-quarter profit as the investment bank benefited from higher income from its fixed-income unit.
Net income rose to $72 million, or 31 cents per share, from $48 million, or 21 cents per share, a year earlier.
The company, which has agreed to be bought by its biggest shareholder, Leucadia National for $2.76 billion, earned 35 cents per share on an adjusted basis.
Analysts were expecting the company to earn 32 cents per share, according to Thomson Reuters I/B/E/S.
Revenue for the quarter rose 39 percent to $769 million from a year earlier. Investment banking revenue rose 8 percent to $283 million.
"Combining our company with an extremely well-capitalized parent will allow us to continue to aggressively add value to our clients," Jefferies said in a statement.
Jefferies shares, which have risen 12 percent since the deal was announced in mid-November, closed at $18.24 on Monday on the New York Stock Exchange.
