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Despite high interest rates, inflation and an overall challenging national economy, Raymond James Financial reported record net revenues of $3.05 billion and net income of $432 million for the fiscal fourth quarter ended Sept. 30.
Raymond James' revenues increased 8% over the 2022's fiscal fourth quarter, "primarily driven by higher asset management and related administrative fees," as well as fees collected from third-party banks, the St. Pete-based financial company told investors on Wednesday in a news release and subsequent conference call.
The company's fiscal year also ended on Sept. 30, and Raymond James says it had record annual net revenues of $11.62 billion, a 6% increase from 2022, "despite the challenging macroeconomic environment," says Paul Reilly, Raymond James CEO and chairman.
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