12 Best & Worst Broker-Dealers: Q3 Earnings, 2018
November 27, 2018 by Janet Levaux
The third quarter was a good one for most financial companies and broker-dealers, which benefited from a strong economy, tax breaks and a nearly 8% rise in the S&P 500.
According to FactSet, three-quarters of financial companies reported earnings that topped estimates.
Overall, the financial sector had average earnings growth of 36% in Q3. Diversified financial firms within this group had an improvement of 103%, while banks grew earnings 22%.
Close to 90% of financial firms reported an increase in their net profit margins in the latest quarter vs. Q3’17, FactSet said.
Click HERE to read the full story via ThinkAdvisor.