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Mar 31, 2023
Oppenheimer Q1 2023 Earnings Report
Reported net income and revenue increased compared to the same quarter last year.
Key Takeaways
Oppenheimer Holdings Inc. reported a strong first quarter in 2023, with a 57.3% increase in net income to $14.6 million and a 20.9% increase in revenue to $321.7 million compared to the first quarter of 2022. The company's performance was driven by growth in interest-sensitive revenues, M&A advisory fees, and sales and trading revenues, which were partially offset by lower client portfolio valuations.
Net income increased by 57.3% year-over-year, reaching $14.6 million.
Revenue increased by 20.9% year-over-year, totaling $321.7 million.
Private Client segment experienced near-record revenues due to higher bank deposit sweep income and margin interest revenue.
The company repurchased 95,055 shares of its Class A non-voting common stock during the quarter.
Oppenheimer
Oppenheimer
Oppenheimer Revenue by Segment
Revenue by Segment
Capital Markets Revenue
CapyFin.com Forward Guidance
Not applicable, no forward guidance provided in this earnings report.