Regional brokerage and investment banking firm Stifel Financial Corp.’s second quarter results took a hit as the firm wrestled with ongoing legal issues, while its global wealth management business’ revenue fell from the first quarter with decreased trading volumes.
Stifel’s overall unaudited net income was $3.4 million, or $0.05 per share, for the second quarter, down from $21.1 million, or $0.40 per share in the second quarter of 2010. At the same time, revenue fell 2.1% from the first quarter to $358.9 million. But with second quarter revenue still up 9.4% compared to the same period in 2010, when it was $328 million, performance has still improved from last year, the firm said.
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