Jefferies Revenue Slides Less Than Expected, Pushing Shares (1)

Jefferies Financial Group Inc. gained in extended trading after quarterly revenue topped Wall Street estimates.

Net revenue for the three months ending in February was $1.73 billion, Jefferies said Monday in a statement. That exceeded the $1.54 billion average estimate of three analysts surveyed by Bloomberg. Still, revenue plunged 30% from a year earlier, after the market for initial public offerings ground to a halt in recent months. Results were hindered by a 68% decline in equity underwriting fees, and as traders struggled with growing uncertainty that kept clients on the sidelines.

“Our equity underwriting results were lower than the ...