Raymond James Results Top Estimates

(RTTNews) - Raymond James Financial Inc (RJF) on Wednesday reported second-quarter net earnings of $133.2 million or $0.91 per share compared with $122.7 million or $0.85 per share last year.

Net revenues for the quarter were up 9% at $1.32 billion compared with $1.21 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.89 per share on revenues of $1.30 billion for the quarter. Analysts' estimates typically exclude special items.

"We continue to benefit from very robust financial advisor retention and recruiting results, which has helped us achieve quarter-end records for both client assets under administration and financial assets under management," said CEO Paul Reilly.

"All of our businesses are well-positioned for sustainable, long-term growth, as we maintain an unwavering commitment to serving our clients," Reilly added.