Jefferies Loves Fees (Fees, Fees, Fees)

Posted by Bess Levin, Jul 17, 2007, 11:51am

jefferies.jpgProfits at Jefferies shot up 48% during the second quarter, the firm said today. The surge was due in large part to everyone's favorite legalized crack-- investment banking fees. IB revenues were up 81% to a record $223.1 million from 2006's $122.9 million.

This is one of those “better than expected” moments. Analysts had pegged net income growth at 39 cents per share and it came in at 45 cents. That’s a 15 percent beat over expectations. Pretty nice but not quite worthy of a celebratory dwarf-toss.

Dick Handler, Chairman and CEO applauded 4/1-6/30 as the "best quarter in Jefferies' 45-year history."
Congrats, etc, but come on, Dick. Better than the first quarter of 1987? We think not.

UPDATE: A VP with the bank confirms: "All I can say is that while there won't be dwarfs, odds of strippers are high to very high."

Growth in investment banking boosts Jefferies [MarketWatch]
Jefferies Press Release

0Recommend this! 9Comments
Posted in: Earnings Reports, Jefferies

Comments

Posted by Give-up Agreement, Jul 17, 2007 12:25PM

Sorry to take the low road, but am I the only guy who has to suppress a giggle when I read the name “dick handler”?

Posted by jt, Jul 17, 2007 12:45PM

wait his name really is Dick Handler? No way, you're kidding, you've got to be kidding! Thats even better than Dick Fold, er Fuld!

(clearly sophisticated humor only here)

Posted by , Jul 17, 2007 1:40PM

Or Dick Strong from Strong Capital Management.

Posted by Dick Handler's secretary, Jul 17, 2007 1:57PM

“Dick, Mike Hunt is here for you”.

Posted by , Jul 17, 2007 2:09PM

wow, you are the first to realize that. very perceptive

Posted by Team America, Jul 17, 2007 2:52PM

Dicks fuck Pussies. Sometimes Dicks fuck Assholes too.

Posted by F#CK YEA!, Jul 17, 2007 3:20PM

AMERICA!

Posted by , Jul 17, 2007 10:14PM

So, I may be a little bit slow, but isn't 45 cents vs. 39 cents 15%? Wtf?

Posted by , Jul 19, 2007 1:44PM

Maybe I'm still smarting from mr. epstein and mr. broadcom ceo earlier with their lairs and prostitutes, but could there be just one post oh dear dealbreaker, ONE, that remembers that women work in finance too and don't exist only in the form of strippers? Or maybe I'm just upset that I can't give my ugly-ass boss a lap dance.

Post Your Comment