Investment bank revenues hit record highs but can’t offset credit missteps; Jefferies (JEF.US) Q1 results miss expectations, stock down 36% year-to-date
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Despite the bank's investment banking division recording its strongest first quarter ever, earnings per share stood at $0.70, falling short of analysts' expectations of $0.87. The performance included a $17 million loss related to two recent credit risk incidents—Market Financial Solutions and First Brands Group.
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