Waddell & Reed: 2Q Earnings Snapshot
OVERLAND PARK, Kan. (AP) _ Waddell & Reed Financial Inc. (WDR) on Tuesday reported second-quarter earnings of $33.9 million.
On a per-share basis, the Overland Park, Kansas-based company said it had net income of 45 cents. Earnings, adjusted for non-recurring gains, were 42 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The investment adviser and mutual fund company posted revenue of $270.2 million in the period.
Waddell & Reed shares have fallen roughly 3% since the beginning of the year. The stock has fallen roughly 7% in the last 12 months.