Leucadia National Corporation (LUK) swung to a net profit for the quarter ended Mar. 31, 2017. The company has made a net profit of $282.42 million, or $ 0.75 a share in the quarter, against a net loss of $221.86 million, or $0.60 a share in the last year period. Revenue during the quarter surged 42.32 percent to $2,867.98 million from $2,015.11 million in the previous year period.
Operating income for the quarter was $2,867.98 million, compared with $2,015.11 million in the previous year period.
Rich Handler, CEO of Leucadia, and Brian Friedman, President of Leucadia, said: "We are pleased with yet another quarter of strong performance across Leucadia. Jefferies' first quarter represents the fourth straight quarter of improved results. Jefferies' recorded net revenues for the twelve months ended February 28, 2017 aggregate to nearly $3 billion and reflect the benchmark level of our capabilities during a stable environment. First quarter performance was driven by well-balanced contributions of $408 million from Investment Banking and $380 million from Equities and Fixed Income, reflecting improved debt capital markets performance, a solid contribution by equity capital markets, a good quarter for advisory activities and a sales and trading environment that was reasonably robust for much of the quarter."
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