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June 27 (Reuters) – Jefferies Financial Group Inc’s (JEF.N) second-quarter profit slumped 89% as subdued dealmaking weighed on its advisory fees, the investment bank said on Tuesday.
Total net revenue dropped 22% to $1.04 billion.
Shares in the bank fell 5% in extended trading.
The New York-based financial institution’s results are often viewed as a prelude to earnings from Wall Street titans such as JPMorgan Chase & Co (JPM.N), Goldman Sachs Group Inc (GS.N) and Morgan Stanley (MS.N).
Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Sriraj Kalluvila
Our Standards: The Thomson Reuters Trust Principles.
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