Jefferies Financial reports Q1 EPS 54c, consensus 43c

Reports Q1 revenue $1.28B, consensus $1.09B. "We are pleased with our first quarter results," said CEO Richard Handler and president Brian Friedman. "Despite the significant decline in M&A activity and a continued lull in the IPO and leveraged finance markets, our Investment Banking business continues to build on our momentum and growing market position. The capital markets continue to be challenging and we are continuing to serve our clients in the best ways possible and they are rewarding us with increased market share. Our team has never been stronger and we continue to attract top talent who increasingly view Jefferies as the firm of choice. We do not know when the capital markets will return to some version of normalcy, but our plan is to be well positioned to gain even further market share and take advantage of the dislocations affecting our industry."