Raymond James Financial logged higher revenue in its latest quarter on growth in each of its business areas, with particular strength in its private client group segment.
The investment banking and financial services company posted a third-quarter profit of $595 million, or $3.01 a share, compared with $435 million, or $2.12 a share, a year earlier.
Adjusted earnings per share were $3.14, compared with estimates of $2.93 a share according to analysts polled by FactSet.
Net revenue climbed 16% year over year to $3.93 billion, compared with analyst estimates of $3.87 billion.
The growth was driven by higher revenue across each of the company's segments, including gains of 14% in private client group and 25% in capital markets. Revenue also rose in the company's asset management and bank businesses, up 24% and 7%, respectively.
Chief Executive Paul Shoukry highlighted the strength of the private client group division in particular, where fee-based assets reached a quarter-end record.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
July 22, 2026 17:10 ET (21:10 GMT)
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