Raymond James Earnings Beat Wall Street’s Forecast. The Stock Is Rising.
Raymond James Financial reported quarterly earnings that handily beat Wall Street estimates thanks to a surge in investment banking revenue and strong performance by its wealth management unit.
The company reported earnings per share of $2.95 for its fiscal fourth quarter, which ended Sept. 30. Analysts surveyed by FactSet had expected EPS of $2.41. Revenue came in at $3.46 billion, topping analysts’ forecast for $3.32 billion.
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