Raymond James Financial(US:RJF)2022-04-28 12:03Fiscal 2Q22 Financial Highlights - Net revenues were $2673 million, a 13% increase compared to 2Q21, but a 4% decrease compared to 1Q22[5] - Net income was $323 million, a 9% decrease compared to 2Q21, and a 28% decrease compared to 1Q22[5] - Diluted earnings per common share were $152, a 10% decrease compared to 2Q21, and a 28% decrease compared to 1Q22[5] - Adjusted net income was $331 million, a 7% decrease compared to 2Q21, and a 27% decrease compared to 1Q22[5] - Adjusted diluted earnings per common share were $155, an 8% decrease compared to 2Q21, and a 27% decrease compared to 1Q22[5] Key Metrics - Client assets under administration were $12561 billion, a 16% increase compared to 2Q21, and a 0% change compared to 1Q22[8] - Private Client Group (PCG) assets under administration were $11983 billion, a 17% increase compared to 2Q21, and a 0% change compared to 1Q22[8] - PCG assets in fee-based accounts reached a record of $6780 billion, a 19% increase compared to 2Q21, and a 0% change compared to 1Q22[8] - Total clients' domestic cash sweep balances reached a record of $765 billion, a 22% increase compared to 2Q21, and a 4% increase compared to 1Q22[8] Segment Results - Private Client Group net revenues reached a record of $1922 million, a 17% increase compared to 2Q21, and a 5% increase compared to 1Q22[10] - Capital Markets net revenues were $413 million, a 5% decrease compared to 2Q21, and a 33% decrease compared to 1Q22[10] - Raymond James Bank net revenues were $197 million, a 23% increase compared to 2Q21, and an 8% increase compared to 1Q22[10]