Stifel Financial Posts Mixed Earnings (SF)
Stifel Financial Corp. (NYSE: SF) reports Q2 EPS of $0.69 versus estimates of $0.70. Stifel Financial Corp. reports Q2 revenues of $328 million versus estimates of $321.11 million.
Revenues increased 25% year over year; net income increased 34% year over year.
"We are very pleased to report record quarterly revenue and record six-month net income and revenue results, which reflect the investments we've made over the past several years. The merger with Thomas Weisel Partners closed on July 1, 2010, and we are confident that through the synergies of the combined company we can build the premier middle-market investment bank," commented Chairman and Chief Executive Officer Ronald J. Kruszewski.
He added,"Our capital raising and strategic advisory deal pipeline is promising, although we recognize that we will need a functional market environment to realize its full revenue potential. Looking forward, we will continue our goal of balanced growth by capitalizing on opportunities to build-out our Global Wealth Management business."
Shares of SF are flat in the after-hours trade.
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