S&P 500 (NYSE:SPY) component Janus Capital Group Inc. (NYSE:JNS) reported its results for the second quarter. Janus Capital Group, Inc. offers investment management, administration, distribution and related services to individual and institutional investors.
Janus Capital Group Earnings Cheat Sheet for the Second Quarter
Results: Net income for the asset management company rose to $41.9 million (23 cents per share) vs. $30.2 million (17 cents per share) in the same quarter a year earlier. This marks a rise of 38.7% from the year earlier quarter.
Revenue: Rose 4.3% to $264 million from the year earlier quarter.
Actual vs. Wall St. Expectations: JNS fell in line with the mean analyst estimate of 23 cents per share. Analysts were expecting revenue of $267.2 million.
The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 21.1% and in the fourth quarter of the last fiscal year, the figure rose 78.1%.
Revenue has risen the past four quarters. Revenue increased 3.7% to $257 million in the first quarter. The figure rose 17.9% in the fourth quarter of the last fiscal year from the year earlier and climbed 4.5% in the third quarter of the last fiscal year from the year-ago quarter.
The company fell in line with estimates last quarter after topping expectations in the previous two quarters. In the first quarter, it topped the mark by 4 cents, and in the fourth quarter of the last fiscal year, it was ahead by 3 cents.
Competitors to Watch: Waddell & Reed Financial, Inc. (NYSE:WDR), T. Rowe Price Group, Inc. (NASDAQ:TROW), Virtus Investment Partners, Inc. (NASDAQ:VRTS), U.S. Global Investors, Inc. (NASDAQ:GROW), Cohen & Steers, Inc. (NYSE:CNS), Franklin Resources, Inc. (NYSE:BEN), Federated Investors, Inc. (NYSE:FII), Calamos Asset Management, Inc (NASDAQ:CLMS), Invesco Ltd. (NYSE:IVZ), and Eaton Vance Corp. (NYSE:EV).
(Source: Xignite Financials)