Raymond James Financial, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Raymond James Financial, Inc. (RJF) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $446 million, or $2.10 per share. This compares with $312 million, or $1.48 per share, in last year's first quarter.

Excluding items, Raymond James Financial, Inc. reported adjusted earnings of $451 million or $2.12 per share for the period.

Analysts on average had expected the company to earn $1.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.2% to $2.78 billion from $2.22 billion last year.

Raymond James Financial, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $446 Mln. vs. $312 Mln. last year. -EPS (Q1): $2.10 vs. $1.48 last year. -Analyst Estimate: $1.76 -Revenue (Q1): $2.78 Bln vs. $2.22 Bln last year.