Q1 Earnings Snapshot: Franklin Resources
Q1 Earnings Snapshot: Franklin Resources reports $165.6 million net income
By AP News
Published - Jan 30, 2023, 10:00 AM ET
Last Updated - Jun 23, 2023, 12:18 AM EDT
SAN MATEO, Calif. (AP) _ Franklin Resources Inc. (BEN) on Monday reported fiscal first-quarter net income of $165.6 million.
On a per-share basis, the San Mateo, California-based company said it had net income of 32 cents. Earnings, adjusted for one-time gains and costs, were 51 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The investment manager posted revenue of $1.97 billion in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $1.8 billion.
