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Raymond James Financial (RJF) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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Raymond James Financial, Inc. (RJF) reported $3.4 billion in revenue for the quarter ended March 2025, representing a year-over-year increase of 9.1%. EPS of $2.42 for the same period compares to $2.31 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $3.43 billion, representing a surprise of -0.72%. The company delivered an EPS surprise of -0.82%, with the consensus EPS estimate being $2.44.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Raymond James Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Private Client Group Asset Under Management: $1.48 billion versus the three-analyst average estimate of $1.49 billion.

  • Tier 1 Leverage Ratio: 13.3% versus the three-analyst average estimate of 13.1%.

  • Private Client Group assets in Fee-based Accounts: $872.80 million versus the three-analyst average estimate of $880.13 million.

  • Total Capital Ratio: 24.8% versus the two-analyst average estimate of 24.5%.

  • Revenues- Investment banking: $216 million compared to the $255.78 million average estimate based on five analysts. The reported number represents a change of +20.7% year over year.

  • Revenues- Asset management and related administrative fees: $1.73 billion versus the five-analyst average estimate of $1.71 billion. The reported number represents a year-over-year change of +13.8%.

  • Net Revenues- Total brokerage revenues: $580 million versus the five-analyst average estimate of $562.59 million. The reported number represents a year-over-year change of +9.9%.

  • Revenues- Account and service fees: $321 million versus $338.37 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -4.2% change.

  • Revenues- Interest income: $963 million compared to the $993.09 million average estimate based on five analysts. The reported number represents a change of -8.2% year over year.

  • Total Revenues- Other: $40 million versus $40.96 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +29% change.

  • Principal transactions: $149 million versus the three-analyst average estimate of $130.55 million. The reported number represents a year-over-year change of +30.7%.

  • Net interest Income: $419 million compared to the $513.85 million average estimate based on three analysts. The reported number represents a change of +1.5% year over year.