Raymond James Reports Higher Q2 Profit

(RTTNews) - On Wednesday, Raymond James Financial, Inc. (RJF), a diversified financial services company, posted net income of $493 million for the fiscal second quarter, a 4 percent increase from $474 million in the prior-year quarter. Earnings per share rose to $2.36 from $2.22, supported by growth in revenues and pre-tax income.

Net revenues increased 9 percent year-over-year to $3.40 billion from $3.12 billion. On an adjusted basis, net income rose modestly to $507 million from $494 million in the same quarter a year earlier, while adjusted EPS increased to $2.42 from $2.31.

RJF closed Wednesday's trading at $135.33, down $0.56 or 0.42 percent on the New York Stock Exchange.