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Jefferies Faces Q3 Revenue Dip Amid Dealmaking Challenges | Krugman Exclusive

Jefferies Financial Group Inc. reported lower-than-expected revenue for the third quarter, as the investment bank faced challenges in dealmaking.

This led to a decline in the share price of Jefferies by up to 7%. Photo: Getty Images
This led to a decline in the share price of Jefferies by up to 7%. Photo: Getty Images

The bank’s revenue from investment banking dropped by 30%, driven by a decrease in advisory revenue.

Overall, net revenue amounted to $1.18 billion, falling below the analyst estimate of $1.25 billion.

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