Franklin Resources: Fiscal 3Q Earnings Snapshot
SAN MATEO, Calif. (AP) _ Franklin Resources Inc. (BEN) on Tuesday reported fiscal third-quarter profit of $245.9 million.
The San Mateo, California-based company said it had profit of 48 cents per share. Earnings, adjusted for non-recurring costs, were 65 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The investment manager posted revenue of $1.48 billion in the period, which met Street forecasts.
Franklin Resources shares have risen 17% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%. The stock has climbed almost 7% in the last 12 months.