Raymond James Financial, Inc. Q3 Profit Increases, but misses estimates

(RTTNews) - Raymond James Financial, Inc. (RJF) revealed earnings for its third quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $369 million, or $1.71 per share. This compares with $299 million, or $1.38 per share, in last year's third quarter.

Excluding items, Raymond James Financial, Inc. reported adjusted earnings of $399 million or $1.85 per share for the period.

Analysts on average had expected the company to earn $2.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.0% to $2.91 billion from $2.72 billion last year.

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

-Earnings (Q3): $369 Mln. vs. $299 Mln. last year. -EPS (Q3): $1.71 vs. $1.38 last year. -Analyst Estimate: $2.16 -Revenue (Q3): $2.91 Bln vs. $2.72 Bln last year.