Franklin Resources Earnings Cheat Sheet: Profits Increase 41%, Stock Up

S&P 500 (NYSE:SPY) component Franklin Resources Inc. (NYSE:BEN) reported net income above Wall Street’s expectations for the second quarter. Franklin Resources Inc. is a global investment manager that offers investment vehicles for individuals, institutions, pension plans, trusts, partnerships and other clients.

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Franklin Resources Earnings Cheat Sheet for the Second Quarter

Results: Net income for the asset management company rose to $503.1 million ($2.25/share) vs. $356.7 million ($1.55/share) in the same quarter a year earlier. A rise of 41% from the year earlier quarter.

Revenue: Revenue was $1.75 billion.

Actual vs. Wall St. Expectations: BEN beat the mean analyst estimate of $2.01/share. Estimates ranged from $1.93 per share to $2.07 per share.

Key Stats: The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 31.4%, with the biggest boost coming in the second quarter of the last fiscal year when revenue rose 68.2% from the year earlier quarter.

The company has now seen net income rise in three-straight quarters. In the first quarter, net income rose 40.9% and in the fourth quarter of the last fiscal year, the figure rose 1.5%.

Competitors to Watch: Federated Investors, Inc. (NYSE:FII), Cohen & Steers, Inc. (NYSE:CNS), Calamos Asset Management, Inc (NASDAQ:CLMS), U.S. Global Investors, Inc. (NASDAQ:GROW), Waddell & Reed Financial, Inc. (NYSE:WDR), T. Rowe Price Group, Inc. (NASDAQ:TROW), UBS (NYSE:UBS), Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), Citigroup (NYSE:C), JPMorgan (NYSE:JPM), Janus Capital Group Inc. (NYSE:JNS), Virtus Investment Partners, Inc. (NASDAQ:VRTS), BlackRock, Inc. (NYSE:BLK), and Ameriprise Financial, Inc. (NYSE:AMP).

Today’s Performance: Shares of BEN are trading at $126.91 as of April 28, 2011 at 10:55 AM ET, up 1% from the previous closing price of $125.87.


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