RJF Earnings: Record Revenue From Asset-Based Fees; Capital Markets Trying to Gain Traction

Raymond James reported record revenue for its fiscal second quarter (ended March 2024) from record client assets, even as capital markets revenue continues to try to gain traction in the current environment. The company reported second-quarter net income to common shareholders of $474 million, or $2.22 per diluted share, on $3.1 billion of net revenue. The firm's top line increased 9% from a year ago and 3% sequentially, with much of the revenue increase coming from asset-management fees. Raymond James had a record $1.4 trillion of client assets under administration.