SAN FRANCISCO (AP) _ JMP Group Inc. (JMP) on Wednesday reported second-quarter net income of $1.1 million, after reporting a loss in the same period a year earlier.
The company, based in San Francisco, said it had earnings of 6 cents per share. Earnings, adjusted for non-recurring costs, came to 13 cents per share.
The nvestment banking and asset services company posted revenue of $30 million in the period. Its revenue net of interest expense was $30 million, which beat Street forecasts.
In the final minutes of trading on Wednesday, the company's shares hit $2.64. A year ago, they were trading at $3.73.