Legg Mason (LM) Tops Q1 EPS by 1c

Legg Mason (NYSE: LM) reported Q1 EPS of $0.84, $0.01 better than the analyst estimate of $0.83. Revenue for the quarter came in at $708.6 million versus the consensus estimate of $702.72 million.

Assets Under Management of $699 Billion

AUM decreased to $699.2 billion at June 30, 2015 compared with $702.7 billion at March 31, 2015, driven by $7.1 billion in negative market performance. This was partially offset by long-term net inflows of $1.3 billion as well as $2.3 billion of liquidity inflows. AUM was down 1% from $704.3 billion at June 30, 2014.

• Long-term net inflows of $1.3 billion included fixed income inflows of $2.6 billion, which were partially offset by equity outflows of $1.3 billion for the quarter ended June 30, 2015.
• At June 30, 2015, fixed income represented 53% of AUM, while equity represented 28%, and liquidity represented 19% of AUM.
• By geography, 64% of AUM was from clients domiciled in the United States and 36% from non-US domiciled clients.
• Average AUM during the quarter was $703.9 billion compared to $707.1 billion in the prior quarter and $691.3 billion in the first quarter of fiscal year 2015. Average long-term AUM was $575.6 billion compared to $571.5 billion in the prior quarter and $552.7 billion in the first quarter of fiscal year 2015.

For earnings history and earnings-related data on Legg Mason (LM) click here.

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