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Jefferies Group Q3 revenues surge by 45% to $739m

Jefferies Group, a global securities and investment banking conglomerate, has reported $739m revenue for the third quarter ending 31 August 2012, a 45% rise from $509m during the same period last year.

For the three months, its net earnings to common shareholders were $70m, up almost 3% from $68m, during the comparable period from last year.

Net earnings per common share for the current quarter period stood at $0.31, compared $0.30 per share during the corresponding period earlier year.

For the nine months ended on 31 August 2012, the bank’s net revenues rose by 12% to $2.2bn, against $1.9bn during the same period prior year.

Commenting on the financial performance of the bank Jefferies Group chairman and CEO Richard B Handler said the current nine-month period results were the best in the company’s history, in spite of the turbulent conditions.

"Our equity base of $3.7 billion has never been more robust, and our balance sheet and liquidity have never been stronger. The Jefferies brand and our competitive position versus our competitors have also never been better," Handler commented.