Franklin Resources Inc. Announces 8% Fall In Q3 Earnings

(RTTNews) - Franklin Resources Inc. (BEN) revealed a profit for third quarter that decreased from last year.

The company said its profit declined to $410.6 million, or $0.73 per share. This was down from $446.4 million, or $0.77 per share, in last year's third quarter.

Analysts had expected the company to earn $0.72 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.2% to $1.61 billion. This was down from $1.63 billion last year.

Franklin Resources Inc. earnings at a glance:

-Earnings (Q3): $410.6 Mln. vs. $446.4 Mln. last year. -Earnings Decline (Y-o-Y): -8.0% -EPS (Q3): $0.73 vs. $0.77 last year. -EPS Decline (Y-o-Y): -5.2% -Analysts Estimate: $0.72 -Revenue (Q3): $1.61 Bln vs. $1.63 Bln last year. -Revenue Change (Y-o-Y): -1.2%