Raymond James Financial, Inc. Q2 Profit Decreases, misses estimates

(RTTNews) - Raymond James Financial, Inc. (RJF) released a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $323 million, or $1.52 per share. This compares with $355 million, or $1.68 per share, in last year's second quarter.

Excluding items, Raymond James Financial, Inc. reported adjusted earnings of $331 million or $1.55 per share for the period.

Analysts on average had expected the company to earn $1.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.7% to $2.67 billion from $2.37 billion last year.

Raymond James Financial, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $323 Mln. vs. $355 Mln. last year. -EPS (Q2): $1.52 vs. $1.68 last year. -Analyst Estimates: $1.64 -Revenue (Q2): $2.67 Bln vs. $2.37 Bln last year.