Stifel Financial Corp. (SF) Thursday reported first-quarter profit of $14.6 million or $0.21 per share, down from $34.8 million or $0.55 per share in the same period last year.
Adjusted earnings for the quarter was $39.9 million or $0.58 per share. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.57 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues grew 10.4 percent to $441.8 million from $400.3 million last year. Analysts expected revenues of $450.31 million.
Operating expenses increased to $36.62 million from $27.60 million.
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