Raymond James Financial, Inc. Q1 Profit Beats Estimates

(RTTNews) - Raymond James Financial, Inc. (RJF) released a profit for first quarter that beat the Street estimates.

The company's earnings came in at $497 million, or $2.32 per share. This compares with $507 million, or $2.30 per share, in last year's first quarter.

Excluding items, Raymond James Financial, Inc. reported adjusted earnings of $514 million or $2.40 per share for the period.

Analysts on average had expected the company to earn $2.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.2% to $3.52 billion from $3.03 billion last year.

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

-Earnings (Q1): $497 Mln. vs. $507 Mln. last year. -EPS (Q1): $2.32 vs. $2.30 last year. -Analyst Estimates: $2.26 -Revenue (Q1): $3.52 Bln vs. $3.03 Bln last year.