For its fiscal 2025 Q2 ended March 31, 2025, Raymond James Financial generated net revenues of $3.40 billion, an increase of 9% compared with the prior-year quarter, and pre-tax income of $671 million, an increase of 10%. Its diluted earnings per share were $2.36, reflecting an increase of 6%.

10-QQuarterly reportFiled May 7, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

For its fiscal 2025 Q2 ended March 31, 2025, Raymond James Financial generated net revenues of $3.40 billion, an increase of 9% compared with the prior-year quarter, and pre-tax income of $671 million, an increase of 10%. Its diluted earnings per share were $2.36, reflecting an increase of 6%.
The company said net income available to common shareholders increased 4% to $493 million, and annualized return on common equity was 16.4% compared with 17.5% for the prior-year quarter. Excluding acquisition-related expenses of $19 million, adjusted net income available to common shareholders was $507 million and adjusted diluted earnings per share were $2.42.
Raymond James cited higher asset management and related administrative fees resulting from increased PCG client assets in fee-based accounts as the primary driver of the increase in net revenues. The company said combined net interest income and RJBDP fees from third-party banks decreased due to lower short-term interest rates.
Cash and cash equivalents (excluding amounts segregated for regulatory purposes and restricted cash) as of March 31, 2025 were $9.66 billion, a decrease of $1.3 billion compared with September 30, 2024. The company cited net investments in bank loans, payments of prior-year bonuses, common stock repurchases, dividend payments, and repayment of certain FHLB borrowings as the primary factors in the decrease.

Key figures

Quarter ended March 31, 2025

Revenue: $3.8B
Net income: $495M
EPS: $2.36

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly net revenues $3.40 billion and pre-tax income $671 million

For its fiscal 2025 Q2 ended March 31, 2025, Raymond James Financial generated net revenues of $3.40 billion, an increase of 9% compared with the prior-year quarter, and pre-tax income of $671 million, an increase of 10%. Its diluted earnings per share were $2.36, reflecting an increase of 6%.

Source · Based on the MD&A text of the filing

Net income and return on common equity, adjusted measures

The company said net income available to common shareholders increased 4% to $493 million, and annualized return on common equity was 16.4% compared with 17.5% for the prior-year quarter. Excluding acquisition-related expenses of $19 million, adjusted net income available to common shareholders was $507 million and adjusted diluted earnings per share were $2.42.

Source · Based on the MD&A text of the filing

Drivers of net revenue increase and decline in interest income

Raymond James cited higher asset management and related administrative fees resulting from increased PCG client assets in fee-based accounts as the primary driver of the increase in net revenues. The company said combined net interest income and RJBDP fees from third-party banks decreased due to lower short-term interest rates.

Source · Based on the MD&A text of the filing

Cash and cash equivalents $9.66 billion

Cash and cash equivalents (excluding amounts segregated for regulatory purposes and restricted cash) as of March 31, 2025 were $9.66 billion, a decrease of $1.3 billion compared with September 30, 2024. The company cited net investments in bank loans, payments of prior-year bonuses, common stock repurchases, dividend payments, and repayment of certain FHLB borrowings as the primary factors in the decrease.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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