PITTSBURGH (AP) _ Federated Hermes, Inc. (FHI) on Thursday reported second-quarter earnings of $81.2 million.
The Pittsburgh-based company said it had net income of 80 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The one of the nation's largest managers of money market funds posted revenue of $360.7 million in the period.
Federated Hermes shares have fallen 25% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $24.55, a fall of 30% in the last 12 months.