What drove SF's earnings beat in the last quarter of 2024?

Stifel Financial's (SF) earnings beat in the last quarter of 2024 can be attributed to several key factors:

1. Record Net Revenues: The company reported record net revenues of $1.36 billion for the fourth quarter, marking a 19% increase from the previous year. This significant increase in revenues contributed to the overall earnings growth.
2. Diversified Business Model: Stifel's diversified business model, which includes investment banking, asset management, and transactional services, has been a key factor in its resilience and growth. This diversification likely helped the company navigate market challenges and capitalize on various opportunities.
3. Asset Management and Advisory Revenues: There was a notable increase in asset management revenues, up 19% over the year-ago quarter. Additionally, advisory revenues saw a 50% increase compared to the previous year. These substantial gains indicate a strong performance in providing value-added services to clients.
4. Capital Raising Revenues: Capital raising revenues also experienced a 29% increase. This suggests that Stifel Financial was successful in helping clients raise capital, which is a critical service in the financial industry.

In summary, SF's earnings beat in the last quarter of 2024 can be attributed to record net revenues, a diversified business model, significant increases in asset management and advisory revenues, and strong capital raising activities. These factors collectively contributed to the company's robust financial performance.