Piper Jaffray Cos. said Wednesday that its first-quarter net loss increased 92.9% from a year earlier, to $2.7 million, or 17 cents a share.

However, the average estimate of analysts surveyed by FactSet Research Systems Inc. had called for the Minneapolis investment bank to report a loss of 25 cents a share.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.