JEF - Jefferies stock jumps after Q1 results top consensus

Jefferies Financial (NYSE:JEF) stock climbed as much as 6% in afterhours trading Monday after first-quarter results came in better-than-expected. Net revenues of $1.73B in Q1 beat the $1.55B consensus but dipped from $2.48B in the same period a year ago in a backdrop of market volatility, tighter monetary policy and geopolitical uncertainty.  Investment banking and capital markets net revenues were $1.48B in Q1, down from $1.98B in Q1 2021.   Q1 EPS of $1.23 per diluted share topped the 89 cents Wall Street estimate and fell from $2.13 in Q1 2021.  Specifically, "equities net revenues were impacted by market volatility and global instability. Fixed Income net revenues were lower, primarily due to lower trading volumes in the face of inflation concerns and interest rate uncertainty," said Richard Handler, President and CEO. "Asset Management net revenues reflect higher asset management fees, offset by lower investment returns and lower revenues from strategic affiliates as compared to

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Jefferies stock jumps after Q1 results top consensus