Franklin Resources: Fiscal 4Q Earnings Snapshot

SAN MATEO, Calif. (AP) _ Franklin Resources Inc. (BEN) on Thursday reported fiscal fourth-quarter profit of $502.5 million.

On a per-share basis, the San Mateo, California-based company said it had net income of 96 cents. Earnings, adjusted for pretax gains, were 79 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The investment manager posted revenue of $1.53 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $1.55 billion.

For the year, the company reported profit of $764.4 million, or $1.39 per share. Revenue was reported as $6.32 billion.

Franklin Resources shares have decreased 35 percent since the beginning of the year, while the Standard & Poor's 500 index has declined nearly 1 percent. The stock has dropped 37 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BEN at https://www.zacks.com/ap/BEN