Raymond James Financial, Inc. RJF · Stock Open Raymond James Financial, Inc. in new tab

Raymond James reported record quarterly and fiscal-year revenues and net income, with quarterly revenue up 15% year over year. The stock rose 2.5% after the earnings release, a relatively modest move that signals a broadly positive but not emphatic market reaction.

• Quarterly revenue reached a record $4.27 billion, up 15% year over year and 9% sequentially; pretax income was a record $862 million, up 18% year over year.
• Private Client Group quarter-end client assets under administration were $1.87 trillion, up 12% year over year. Domestic net new assets for the fiscal year rose 88% to a record more than $98 billion.
• Fiscal-year domestic recruiting brought in advisers with $538 million of trailing 12-month production and more than $82 billion in client assets at their prior firms.
• Capital Markets revenue growth was driven primarily by stronger Investment Banking results and higher affordable-housing investment business revenue. Fiscal-year consolidated Investment Banking revenue exceeded $1.1 billion, and management said the pipeline remains strong.
• Bank loans ended the quarter at a record $57.5 billion, driven predominantly by securities-based lending, whose balances rose 32% year over year and 6% sequentially.