Federated Investors: 2Q Earnings Snapshot
PITTSBURGH (AP) _ Federated Investors Inc. (FII) on Thursday reported second-quarter net income of $62.7 million.
On a per-share basis, the Pittsburgh-based company said it had profit of 62 cents.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The one of the nation’s largest managers of money market funds posted revenue of $321.5 million in the period.
Federated Investors shares have risen 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $34.26, an increase of 46% in the last 12 months.