Franklin Resources Q3 Results Top Estimates
(RTTNews) - Franklin Resources, Inc. (BEN) announced Friday that net income for the third quarter declined to $174.0 million or $0.32 per share from $227.5 million or $0.44 per share in the prior-year quarter.
Excluding item, adjusted net income for the quarter was $0.60 per share, compared to $0.63 per share in the year-ago quarter.
Total operating revenue for the quarter increased 8 percent to $2.12 billion from $1.97 billion in the same quarter last year.
On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share on revenues of $1.66 billion for the quarter. Analysts' estimates typically exclude special items.
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