Raymond James Q2 2020 Earnings Report
Key Takeaways
Raymond James Financial reported record quarterly net revenues of $2.07 billion, up 11% year-over-year, but net income decreased by 35% to $169 million, or $1.20 per diluted share, due to a $109 million bank loan loss provision. The Private Client Group segment saw record net revenues and pre-tax income.
Record quarterly net revenues of $2.07 billion, up 11% year-over-year.
Net income of $169 million, or $1.20 per diluted share, down 35% year-over-year due to a bank loan loss provision of $109 million.
Record quarterly net revenues and pre-tax income in the Private Client Group segment.
Record clients’ domestic cash sweep balances of $52.9 billion, up 27% year-over-year.
Raymond James
Raymond James
Raymond James Revenue by Segment
Forward Guidance
Raymond James expects economic deterioration, declines in the equity markets, and lower short-term interest rates to negatively impact financial results, but the company is well-positioned for the long term with strong capital and liquidity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income