Franklin Resources (BEN) Tops Q2 EPS by 10c, Revenues Beat

Franklin Resources (NYSE: BEN) reported Q2 EPS of $0.72, $0.10 better than the analyst estimate of $0.62. Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.4 billion.

“We’re pleased to see continued performance improvements for a number of our key investment strategies,” said Greg Johnson, Chairman and CEO of Franklin Resources, Inc. “Against that backdrop, we’re also encouraged to see flows improve, most notably in the fixed income and multi-asset investment objectives. Gross inflows increased 24% over the prior quarter, while redemptions slowed to their lowest level since 2011. As we look to the future, we continue to take measured and deliberate steps to redistribute savings from our expense management efforts in order to further invest our resources where they will have the greatest impact, including multi-asset solutions, distribution, alternatives, and technology that helps drive strong investment performance.”

For earnings history and earnings-related data on Franklin Resources (BEN) click here.

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