Waddell & Reed Financial (WDR) Tops Q1 EPS by 6c, Slight Miss on Revenues

Waddell & Reed Financial (NYSE: WDR) reported Q1 EPS of $0.42, $0.06 better than the analyst estimate of $0.36. Revenue for the quarter came in at $259.4 million versus the consensus estimate of $260.02 million.

“Despite a challenging market environment as we began 2019, our team remained focused on executing our plans through improved investment performance, ongoing product development and the continued evolution of our wealth management platform. We made progress in each of these areas during the quarter, as we continued to improve short- and intermediate-term investment performance rankings across the complex, introduced a new investment vehicle for our existing strategies and made further progress on our commitment to improved technology and practice development for our Advisors, “ said Philip J. Sanders, Chief Executive Officer of Waddell & Reed Financial, Inc.

Mr. Sanders continued, “While we were encouraged by the rebound in markets after the volatile end to last year, the sales environment is challenging. Nevertheless, we remain steadfast in our commitment towards improving our Company’s long-term competitive positioning.”

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

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