Raymond James Financial, Inc. Q2 Profit Increases, but misses estimates

(RTTNews) - Raymond James Financial, Inc. (RJF) announced a profit for its second quarter that increased from the same period last year but missed the Street estimates.

The company's earnings came in at $425 million, or $1.93 per share. This compares with $323 million, or $1.52 per share, in last year's second quarter.

Excluding items, Raymond James Financial, Inc. reported adjusted earnings of $446 million or $2.03 per share for the period.

Analysts on average had expected the company to earn $2.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.5% to $2.87 billion from $2.67 billion last year.

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

-Earnings (Q2): $425 Mln. vs. $323 Mln. last year. -EPS (Q2): $1.93 vs. $1.52 last year. -Analyst Estimate: $2.23 -Revenue (Q2): $2.87 Bln vs. $2.67 Bln last year.