A surge of deals in the blockchain and cannabis sectors gave investment bank
Canaccord Genuity Group Inc. (TSX:CF) a jump in Q3 earnings.
The financial services firm reports an adjusted net income of $50.3 million before taxes, for the three months ending December 31
st, 2017. Compared to $7.8 million over the same time in 2016, that’s a net income rise of more than 500% year-over-year.
Analysts surveyed by Thompson Reuters predicted earnings per share of $0.17 but received $0.31 for the fiscal third quarter.
Image via @CGWM_CA.
Out of Cannacord’s 141 global capital markets transactions in Q3, CEO Dan Daviau points to several large deals in the marijuana and blockchain sectors, specifically
Global Blockchain Technologies (TSXV:BLOC, OTC:BLKCF, Forum).
With files from Canadian Press.