Jefferies Group Earnings: Investors Like This Topline Growth

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Jefferies Group Inc. (NYSE:JEF) reported higher profit for the fourth quarter as revenue showed growth. Jefferies Group and its subsidiaries operate as independent, full-service global securities and investment banking firm serving companies and their investors.

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Jefferies Group Inc. Earnings Cheat Sheet

Results: Net income for Jefferies Group Inc. rose to $71.6 million (31 cents per share) vs. $48.4 million (21 cents per share) in the same quarter a year earlier. This marks a rise of 48% from the year-earlier quarter.

Revenue: Rose 44.2% to $798.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Jefferies Group Inc. reported adjusted net income of 35 cents per share. By that measure, the company beat the mean estimate of 34 cents per share. It beat the average revenue estimate of $681.3 million.

Quoting Management: “2013 will mark the beginning of a new era for Jefferies. We believe our imminent merger with Leucadia will result in an even stronger Jefferies, as well as making us even more distinguished from our bank holding company competitors,” the company said in a statement.

Key Stats:

The company beat estimates last quarter after meeting expectations in the third quarter with net income of 32 cents per share.

The company has now seen net income increase for two quarters in a row. In the third quarter, net income rose 2.8% from the year earlier.

Looking Forward: Next quarter’s results are expected to be more favorable for the company. Over the past sixty days, the average estimate for the first quarter of the next fiscal year has reached 39 cents per share, up from 38 cents. The average estimate for the fiscal year has risen to $1.27 per share from $1.22 in the past month.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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