Franklin Resources Earnings: Consecutive Profit Quarter Streak Stays Intact

Falling revenue did not prevent S&P 500 (NYSE:SPY) component Franklin Resources Inc. (NYSE:BEN) from reporting a profit boost in the fourth quarter. Franklin Resources is a global investment manager that offers investment vehicles for clients, including individuals, institutions, and trusts.

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Franklin Resources Inc. Earnings Cheat Sheet

Results: Net income for the finance-investment management rose to $492.1 million ($2.31 per share) vs. $416 million ($1.88 per share) in the same quarter a year earlier. This marks a rise of 18.3% from the year-earlier quarter.

Revenue: Fell 90.1% to $1.82 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Franklin Resources Inc. was about in line with expectations as the mean analyst estimate of $2.30 per share. Analysts were expecting revenue of $1.8 billion.

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 8 cents in the third quarter, by 9 cents in the second quarter, and by 10 cents in the first quarter.

Looking Forward: For next quarter, analysts have a more positive outlook about the company’s expected results. The average estimate for the first quarter of the next fiscal year is $2.36 per share, up from $2.24 ninety days ago. Over the past three months, the average estimate for the fiscal year has climbed from $8.77 per to share to $8.97.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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