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
Take-Two Interactive Software (TTWO): Key takeaways from the Q4 2024 earnings report
Shares of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) stayed green on Friday. The stock has gained 7% over the past 12 months. The company reported its fourth quarter 2024 earnings
Take-Two Interactive Software (TTWO) Earnings: 4Q24 Key Numbers
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) reported net revenue of $1.40 billion for the fourth quarter of 2024, which was down 3% year-over-year. Net loss was $2.90 billion, or $17.02
Applied Materials (AMAT) Earnings: 2Q24 Key Numbers
Applied Materials, Inc. (NASDAQ: AMAT) reported revenue of $6.65 billion for the second quarter of 2024, which remained flat year-over-year. GAAP net income increased 9% to $1.72 billion and EPS
