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UPDATE 1-Stifel Financial Q4 profit trumps Street
February 9, 2010 / 9:37 PM / 8 years ago

UPDATE 1-Stifel Financial Q4 profit trumps Street

* Q4 EPS $0.71 vs est $0.65

* Q4 net rev up 38 pct to $319.5 mln

* Investment banking, principal transactions rev jump Feb 9 (Reuters) - Investment bank Stifel Financial Corp (SF.N) reported a higher-than-expected quarterly profit, helped by a jump in revenue from principal transactions and investment banking.

For the fourth quarter, net income rose to $24.7 million, or 71 cents per share, from $16 million, or 53 cents a share, last year.

Analysts on average were looking for a profit of 65 cents a share, before items, according to Thomson Reuters I/B/E/S.

Net revenue jumped 38 percent to $319.5 million.

Revenue from principal transactions rose 26 percent to $116.4 million, while investment banking revenue was $50.5 million, up from $15.8 million in the previous year.

Shares of the company closed at $50.58 Tuesday on the New York Stock Exchange.

For all the alerts, double-click [ID:nWNAB5121] (Reporting by Brenton Cordeiro in Bangalore; Editing by Gopakumar Warrier)

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