$JEF reported earnings results

$JEF reported earnings results today with a double miss:

❌Revenue: $1.59B vs. $1.86B expected

❌EPS: $0.57 vs. $0.94 expected

✅ Has strengthened its investment banking segment, benefiting from an increase in M&A advisory, IPO underwriting, and debt/equity offerings.

✅Unlike traditional investment banks, Jefferies has a well-balanced portfolio that includes asset management, merchant banking, and trading operations.

❌Competes against major Wall Street firms like Goldman Sachs and Morgan Stanley, which have greater resources, larger client bases, and more diversified revenue streams.

❌Lending and trading businesses expose it to credit and market volatility risks.

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