Waddell & Reed: 2Q Earnings Snapshot
OVERLAND PARK, Kan. (AP) _ Waddell & Reed Financial Inc. (WDR) on Tuesday reported second-quarter earnings of $44.5 million.
On a per-share basis, the Overland Park, Kansas-based company said it had profit of 55 cents. Earnings, adjusted for asset impairment costs, came to 56 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The investment adviser and mutual fund company posted revenue of $295.3 million in the period.
Waddell & Reed shares have decreased 13 percent since the beginning of the year. The stock has dropped 4.5 percent in the last 12 months.