Despite the market’s turbulence earlier this year, Raymond James Financial Inc.’s revenue and profit rose in its second fiscal quarter on strength in its banking and lending activities.
The St. Petersburg, Fla.-based brokerage firm earned $125.8 million, or 87 cents per diluted share, for the quarter. That compares with $113.5 million in the year-earlier period, or 77 cents a diluted share. Excluding $6 million in costs associated with its acquisition of Deutsche Bank AG’s private client unit, adjusted net income for the quarter was $129.7 million.
