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Raymond James posts record quarterly profits, revenues

Raymond James Financial hit a fiscal trifecta Wednesday as it reported record quarterly profits and record revenues while exceeding analyst's expectations.

The St. Petersburg-based brokerage and financial services firm reported net income of $122.7 million for the fiscal third quarter ended June 30, up 33 percent from the year-ago period, which also included acquisition-related expenses of $13 million.

Per share earnings of 85 cents beat analysts' estimates by 9 cents a share.

Revenues rose 9 percent, from $1.1 billion to $1.2 billion.

CEO Paul Reilly said the company reached its performance targets for the current market and interest rate environment sooner than expected.

Results were announced after the close of market Wednesday.

Raymond James posts record quarterly profits, revenues 07/23/14 [Last modified: Wednesday, July 23, 2014 5:40pm]
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