Janus Capital Group Earnings: WEAK Revenue Lead to Profit Decline

S&P 500 (NYSE:SPY) component Janus Capital Group Inc. (NYSE:JNS) posted a decrease in profit as revenue declined. Janus Capital Group offers investment management, administration, distribution and related services to individual and institutional investors.

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Janus Capital Group Earnings Cheat Sheet for the Second Quarter

Results: Net income for Janus Capital Group Inc. fell to $23.4 million (13 cents per share) vs. $41.9 million (23 cents per share) a year earlier. This is a decline of 44.2% from the year-earlier quarter.

Revenue: Fell 22% to $206 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Janus Capital Group Inc. fell short of the mean analyst estimate of 14 cents per share. It fell short of the average revenue estimate of $220.7 million.

Key Stats:

The company has now seen net income fall for four straight quarters. In the first quarter, net income fell 40.4% while the figure fell 45.8% in the fourth quarter of the last fiscal year and 15.7% in the third quarter of the last fiscal year.

For two quarters in a row, the company has come in under analyst estimates. In the first quarter, it missed expectations by one cent with net income of 15 cents versus a mean estimate of net income of 16 cents per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the third quarter has moved down from 18 cents a share to 14 cents over the last ninety days. For the fiscal year, the average estimate has moved down from 71 cents a share to 57 cents over the last ninety days.

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

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