FX.co ★ Oppenheimer Turns To Profit In Q2 - Quick Facts

Oppenheimer Holdings (OPY) announced a net income of $10.3 million, or $0.92 per share, for the second quarter of 2024. This marks a significant turnaround from a net loss of $9.4 million, or $0.85 per share, in the same period last year. The company's revenue rose by 8.0% to $330.6 million, up from $306.2 million.

The increase in revenue for Q2 2024 stemmed primarily from a substantial rise in advisory fees, linked to an uptick in billable assets under management. Additionally, there was notable improvement in both investment banking and interest revenues.