Franklin Resources Inc. (BEN) reported second-quarter net income attributable to the company of $572.8 million or $2.69 per share up from $503.2 million or $2.32 per share in the prior year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $2.50 per share for the quarter. Analysts' estimates typically exclude special items.
Total operating revenues for the quarter grew to $2.01 billion from $1.80 billion in the year ago quarter. Fourteen analysts had consensus revenue estimate of $1.99 billion for the quarter.
Total assets under management or "AUM" were $823.7 billion at March 31, 2013, up $41.9 billion or 5% during the quarter. The increase was primarily due to $24.5 billion in market appreciation and $18.3 billion of net new flows. AUM increased $98.0 billion or 14% year over year, primarily due to $67.6 billion in market appreciation and $26.3 billion of net new flows.
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