Macquarie reports profit below expectations as market volatility declines

Macquarie Group Ltd. reported a net income of A$1.61 billion for the six months ending September 30, up from A$1.42 billion a year earlier. However, this fell short of the A$1.74 billion expected by analysts. The company's performance was impacted by low volatility in global markets, affecting its commodities and investment banking sectors. While green-energy investments helped, they could not fully offset declines in advisory work. Macquarie's board has extended a share buyback program by another year, allowing up to A$2 billion in repurchases. The firm has seen a decrease in demand for hedging services due to the lack of volatility in energy markets.