Eaton Vance Q2 Profit Down - Quick Facts

Eaton Vance Corp. (EV) reported that its second-quarter net income attributable to shareholders decreased to $72.06 million or $0.65 per share from $101.81 million or $0.89 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted earnings per share was $0.80 for the second quarter of fiscal 2020, unchanged from the prior year.

Revenue for the quarter was $405.91 million down from $411.86 million in the prior year. Analysts expected revenues of $427.78 million for the quarter.

Management fees were down 1 percent, as a 7 percent decrease in consolidated average annualized management fee rates more than offset higher average consolidated assets under management and the impact of one additional fee day in the second quarter of fiscal 2020.

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