Franklin Resources: Overview of Fiscal First Quarter Earnings

Franklin Resources Reports Strong First-Quarter Results

Franklin Resources Inc., headquartered in San Mateo, California, announced a net profit of $255.5 million for its fiscal first quarter.

The company’s earnings translated to 46 cents per share. After adjusting for nonrecurring items, earnings reached 70 cents per share.

These results surpassed analysts’ expectations, as a consensus of six analysts polled by Zacks Investment Research had projected earnings of 55 cents per share.

During the quarter, the investment management firm generated $2.33 billion in revenue, exceeding the $2.15 billion anticipated by three Zacks analysts.

Since the start of the year, Franklin Resources’ stock price has climbed just over 8%, outpacing the S&P 500’s approximate 2% gain. Over the past year, the company’s shares have risen by 29%.