Jefferies Financial Group Inc. announced its first-quarter fiscal year 2025 financial results on March 26, 2025, reporting a decline in profit and revenues. Net earnings attributable to common shareholders fell to $127.8 million, or $0.57 per share, compared to $149.6 million, or $0.69 per share, in the prior year quarter. Total net revenues decreased by 8.4% to $1.59 billion from $1.74 billion in the comparable period.
The firm's management attributed the weaker performance to increasingly challenging capital markets due to uncertainties around U.S. policy and geopolitical events. Investment Banking net revenues decreased by 3.6% to $700.7 million, primarily due to a 39% drop in equity underwriting net revenues. This was partially offset by strong performance in Advisory, which increased 17%, and Debt underwriting, which surged 54%.
Capital Markets net revenues declined by 4% to $698.3 million, with Fixed Income net revenues decreasing 18% to $289.2 million due to lower volatility and reduced overall volumes. However, Equities net revenues showed resilience, increasing 10% to $409.1 million. The Asset Management segment experienced a significant 53% decline in fees and investment return revenues, largely due to considerably weaker investment returns compared to a strong prior year quarter.
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