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Jefferies Group Q2 Revenues Up 13%

American investment banking firm Jefferies Group has posted net revenues of $670m for the fiscal second quarter ended May 31, 2010, an increase of 13% compared to $590m, in the same period last year.

For the fiscal 2010 second quarter, the company posted net income attributable to common shareholders of $85m, or $0.41 per diluted share, compared to $62m, or $0.30 per diluted share, for the corresponding quarter in 2009.

Net revenues for the five month period ended May 31, 2010, increased 7% to $999m versus $932m in the prior year six month period ended Jun 30, 2009.

Net income to common shareholders increased 18% to $119m, or $0.58 per diluted share, in the five month period, versus $100m, or $0.49 per diluted share, in the prior year six month period.

Richard Handler, chairman and CEO of Jefferies, said: “We are pleased with these solid quarterly results, as they were achieved during a volatile operating environment. Equities, fixed income and investment banking each contributed significantly by bringing quality ideas and execution to our global client base.”