Asset management company Franklin Resources, Inc. (NYSE: BEN) Monday announced financial results for the second quarter of fiscal 2024, reporting lower adjusted earnings despite an increase in revenues.
- Second-quarter revenues increased 12% to $2.15 billion from $1.93 billion in the prior-year period
- Investment management fees, the primary revenue source, rose 9% annually to $1.71 billion
- Net income decreased to $124.2 million or $0.23 per share in Q1 from $194.2 million or $0.38 per share a year earlier
- On an adjusted basis, Q1 earnings dropped to $306.6 million or $0.56 per share from $316.7 million or $0.61 per share in Q1 2023
- Q1 operating income was $129.3 million, compared to $255.1 million in the same period of the previous year
- Total assets under management were $1,644.7 billion at the end of March 2024, up $189.2 billion or 13% during the quarter
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
AMAT Earnings: Applied Materials Q1 2025 adj. profit rises on higher sales
Applied Materials, Inc. (NASDAQ: AMAT), a leading supplier of equipment and software for manufacturing semiconductor chips and flat panel displays, Thursday reported an increase in sales and adjusted earnings for
Cisco Systems (CSCO) bets on strong AI demand to drive growth
After starting the fiscal year on a weak note, Cisco Systems Inc. (NASDAQ: CSCO) has regained momentum, reporting higher second-quarter revenue and profit that beat analysts’ estimates. The company is
What to expect when Hasbro (HAS) reports its fourth quarter 2024 earnings results
Shares of Hasbro, Inc. (NASDAQ: HAS) stayed green on Thursday. The stock has gained 7% year-to-date. The toymaker is scheduled to report its fourth quarter 2024 earnings results on Thursday,