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Jun 30, 2023
Oppenheimer Q2 2023 Earnings Report
Oppenheimer's financial performance was negatively impacted by a significant legal reserve, despite revenue growth.
Key Takeaways
Oppenheimer Holdings Inc. reported a net loss of $9.4 million for Q2 2023, despite a 29.1% increase in revenue to $306.2 million. The net loss was attributed to a significant legal reserve.
Revenue increased due to interest sensitive income.
Net loss was driven by an increase in non-compensation expenses, primarily due to a legal reserve.
Assets under administration and management increased due to market appreciation and net asset flows.
The company repurchased shares of Class A Stock during the quarter.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the document.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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