The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Friday, November 01, 2019|
Despite Flat AUM, a B-D's AM Arm Breaks Records
A publicly traded broker-dealer's asset management broke a couple of its records last quarter, despite flat AUM.
According to the Fourth Quarter and Fiscal Year 2019 Results , in fiscal Q4 2019 the asset management unit brought in unaudited quarterly net revenues of $178MM (a record), up 3 percent over the prior year's fiscal fourth quarter and 1 percent over the prior quarter. The unit's quarterly pre-tax income rose 8 percent year-over-year and six percent quarter-over-quarter to a record $69 million. Asset management and related administrative fees revenue were $924MM (out of $2.085 billion for all of RayJay).
Overall, Raymond James has beat analyst's non-GAAP EPS expectations by $0.09, but missed analysts' GAAP EPS expectations by $0.05 (GAAP).
Printed from: MFWire.com/story.asp?s=60452
Copyright 2019, InvestmentWires, Inc.
All Rights Reserved