March 4 (Reuters) - Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a 23 percent jump in first-quarter profit as investment banking revenue grew.
Net income rose to $105 million from $85.5 million a year earlier, according to Jefferies’ preliminary results for the quarter ended Feb. 28 released on Tuesday.
The company’s investment banking revenue increased 42 percent to $410 million, while fixed income revenue fell 17 percent to $280 million.
Net revenue grew about 9 percent to $875 million.
The bank said its holdings in Knight Capital and Harbinger Group Inc, were marked down by $15 million.
Jefferies, which kicks off the reporting season for investment banks, is often viewed as an indicator of the performance of Wall Street banks such as Goldman Sachs Group Inc and Morgan Stanley.
Citigroup Inc on Monday warned that bond trading will be weaker in its current quarter due to economic uncertainty.
Jefferies expects to report its full first-quarter results on March 18.