RTTNews | Jun 29, 2021 11:54AM EDT

11:54 Tuesday, June 29, 2021 (RTTNews.com) - Shares of Jefferies Financial Group Inc. (JEF) are currently gaining over 8% on Tuesday morning, after reporting increased profit and revenues for the second quarter, reflecting continued strength in investment banking.

JEF is currently trading at $34.62, up $2.66 or 8.31%, on the Nasdaq. In the 52 week period, the stock has traded between $14.87 and $34.98.

Net income for the second quarter rose to $352.6 million or $1.30 per share, up from $44.9 million or $0.16 per share last year. Net revenues for the quarter rose to $1.95 billion from $1.15 billion last year.

Investment Banking reported record revenues of $1.03 billion, up 227% over the prior year quarter, including record quarterly Advisory net revenues of $391 million.

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