Waddell & Reed Financial (WDR) Tops Q2 EPS by 7c

Waddell & Reed Financial (NYSE: WDR) reported Q2 EPS of $0.98, $0.07 better than the analyst estimate of $0.91. Revenue for the quarter came in at $400.6 million versus the consensus estimate of $405.9 million.

Assets under management ended the quarter at $135.6 billion, rising 3% sequentially and 30% compared to June 2013. Sales were $7.5 billion during the current quarter, an increase of 10% compared to the second quarter of 2013 and a decrease of 25% compared to the record-setting first quarter of this year. Each of the company's distribution channels saw inflows during the quarter for a complex-wide total of $1.2 billion, resulting in a 3.7% rate of organic growth.

“Results in the quarter were strong,” said Hank Herrmann, Chairman and Chief Executive Officer of Waddell & Reed Financial, Inc. “Sales improved 10% compared to last year’s second quarter and our organic growth rate increased slightly, continuing to exceed industry trends.”

For earnings history and earnings-related data on Waddell & Reed Financial (WDR) click here.

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