Jefferies Financial Group Stock Sinks Following Weak Q4 Results: The Details
Portfolio Pulse from Ryan Gustafson
Jefferies Financial Group Inc. (NYSE:JEF) reported Q4 earnings of $0.29 per share, missing estimates by $0.05 and marking a 49% year-over-year decrease. Revenue was $1.2 billion, below expectations of $1.236 billion. Investment Banking net revenues were $577 million, and Capital Markets net revenues were $481 million. The company's annualized return on adjusted tangible equity was 3.8%. Shares fell 2.83% in after-hours trading.
January 08, 2024 | 9:51 pm
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Jefferies Financial Group reported lower-than-expected Q4 earnings and revenue, leading to a 2.83% drop in after-hours trading.
The negative earnings report, which showed both a miss on earnings per share and revenue expectations, is likely to have a bearish impact on investor sentiment in the short term. The after-hours trading already reflected a negative reaction with a 2.83% drop, which could extend into the next trading session as the market fully digests the news.
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