Waddell & Reed Financial (WDR) Misses Q1 EPS by 3c

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Waddell & Reed Financial, Inc. Reports First Quarter Results

May 2, 2017 6:45 AM EDT

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Waddell & Reed Financial, Inc. (NYSE: WDR) today reported first quarter 2017 net income1 of $33.1 million, or $0.39 per diluted share, compared to net income of $22.4 million, or $0.27 per diluted share, during the prior quarter and net income of $37.0 million, or $0.45 per diluted share, during the first quarter of 2016. The fourth quarter of 2016 included a pension charge of $20.7 million ($13.0 million, net of taxes) and a charge for the impairment of an intangible asset of $4.0 million ($2.5 million, net of taxes).

Operating revenues of $287 million during the first quarter of 2017 declined 2%... More