Invesco Ltd. (IVZ) Reports In-Line Q3 EPS, Revenues Miss; Acquires OppenheimerFunds from MassMutual and Initiates $1.2B Buyback

Invesco Ltd. (NYSE: IVZ) reported Q3 EPS of $0.66, in-line with the analyst estimate of $0.66. Revenue for the quarter came in at $1.34 billion versus the consensus estimate of $1.4 billion.

"The combination with OppenheimerFunds and the strategic partnership with MassMutual will meaningfully enhance our ability to meet client needs, accelerate growth and strengthen our business over the long term," said Martin L. Flanagan, President and CEO of Invesco. "This is a compelling, highly strategic and accretive transaction for Invesco that will help us achieve a number of objectives: enhance our leadership in the US and global markets, deliver the outcomes clients seek, broaden our relevance among top clients, deliver strong financial results and continue attracting the best talent in the industry."

"We have long held OppenheimerFunds' people and strong investment performance track record in high regard," Mr. Flanagan continued. "OppenheimerFunds' culture and commitment to high-conviction investing complement our own, and the combination will create significant opportunities for the talented professionals of both companies."

"Based on the financial strength of the combined organization, we have initiated a $1.2 billion common stock buyback program that will be completed within the next two years."

For earnings history and earnings-related data on Invesco Ltd. (IVZ) click here.

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