Franklin Resources: Fiscal Q1 Earnings Snapshot
SAN MATEO, Calif. (AP) — SAN MATEO, Calif. (AP) — Franklin Resources Inc. (BEN) on Monday reported fiscal first-quarter net income of $251.3 million.
On a per-share basis, the San Mateo, California-based company said it had net income of 50 cents. Earnings, adjusted for one-time gains and costs, were 65 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The investment manager posted revenue of $1.99 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $1.91 billion.
Franklin Resources shares have dropped slightly more than 7% since the beginning of the year, while the S&P's 500 index has increased 2.5%. The stock has decreased 10% 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
