Invesco Ltd. (NYSE: IVZ) reported Q1 EPS of $0.34, $0.18 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.19 billion.

Update from Marty Flanagan, President and CEO

"The spread of the coronavirus is presenting unprecedented challenges to our industry and the markets. At Invesco, we are intensely focused on protecting our employees, while continuing to robustly engage with and serve our clients and running a disciplined business in a turbulent operating environment.

"The resilience of our employees, the strength of our client relationships and the breadth of our capabilities were reflected in stable total flows during the quarter, with net outflows of $2.1 billion. Despite the extreme market volatility, total gross long-term inflows increased nearly 40% versus the prior quarter to a record $84.7 billion, resulting in strong net flows into a number of diverse areas, including institutional, our China JV, money market funds, EMEA ETFs and global fixed income. Long-term investment performance during the quarter remained very strong in capabilities with high demand, including international equities, emerging market equities and a broad range of fixed income.

"Our key priority in the current turbulent operating environment is supporting the long-term financial strength of the firm to ensure we can continue to deliver for our employees, clients and shareholders. We are leveraging our experience in capturing expense savings to create further operating flexibility and build our liquidity. This will help us navigate the uncertain environment ahead while positioning us for long-term growth as the current crisis eases and markets begin to normalize.

"In addition to tightly managing expenses and taking steps to further strengthen our balance sheet, we are reducing our quarterly common dividend from $0.31 to $0.155 per share, beginning with the dividend that will be paid in the second quarter. We believe these steps will provide us with enhanced liquidity to manage through the uncertainty in the markets, ensure ongoing dividend stability, help strengthen our balance sheet over time and preserve optionality for investing in future growth."

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