Franklin Resources Inc. (BEN) announced earnings for its second quarter that increased from the same period last year but missed the Street estimates.
The company's earnings came in at $151.4 million, or $0.26 per share. This compares with $124.2 million, or $0.23 per share, last year.
Excluding items, Franklin Resources Inc. reported adjusted earnings of $254.4 million or $0.47 per share for the period.
Analysts on average had expected the company to earn $0.48 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 1.9% to $2.111 billion from $2.152 billion last year.
Franklin Resources Inc. earnings at a glance (GAAP) :
-Earnings: $151.4 Mln. vs. $124.2 Mln. last year.
-EPS: $0.26 vs. $0.23 last year.
-Revenue: $2.111 Bln vs. $2.152 Bln last year.
For the second quarter, the company posted Assets Under Management of $1.540 trillion, less than $1.644 trillion, recorded for the same period last year.
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