October 19, 2011 / 8:40 PM / 7 years ago

Raymond James profit flat in fourth quarter

Oct 19 (Reuters) - Regional U.S. brokerage Raymond James Financial Inc (RJF.N) said on Wednesday its fiscal fourth-quarter net income was roughly flat from the prior year, citing a challenging environment for its capital markets segment.

The investment bank and brokerage, based in St. Petersburg, Florida, reported net income of $68.9 million, or 54 cents a share, in the quarter ended Sept. 30, compared with $69.1 million, or 55 cents, a year earlier.

Analysts, on average, had expected Raymond James to earn 54 cents a share, according to Thomson Reuters I/B/E/S.

Net revenue rose 9 percent to $ 817.8 million from a year ago.

Raymond James’ private client group, its retail brokerage business, posted a 34 percent increase in pretax income from a year ago. (Reporting by Ashley Lau)

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