logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The media mogul and Billionaire Sumner Redstone passed away on Tuesday at the age of 97, his family's holding company National Amusements said in a statement on Wednesday. He was Chairman Emeritus of ViacomCBS and chief executive officer of National Amusements. Customers in the U.S. are preferring digital or touchless payment methods due to concerns arising from the COVID-19 pandemic, a survey said. According to the survey by Rapyd Financial Network, the coronavirus pandemic has raised health and safety concerns around using cash and coins, and is accelerating the pre-existing trend toward digital transactions. American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until December 31, 2020 in response to lower travel demand due to the coronavirus pandemic. This means that the travelers need not pay penalties for changing the origin and destination cities.
RELATED NEWS
Follow RTT