Franklin Resources Inc. Q2 Income Declines 41%

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

The company said its earnings dropped to $360.4 million, or $0.61 per share. This was lower than $606.5 million, or $0.98 per share, in last year's second quarter.

Analysts had expected the company to earn $0.64 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 19.9% to $1.61 billion. This was down from $2.01 billion last year.

Franklin Resources Inc. earnings at a glance:

-Earnings (Q2): $360.4 Mln. vs. $606.5 Mln. last year. -Earnings Decline (Y-o-Y): -40.6% -EPS (Q2): $0.61 vs. $0.98 last year. -EPS Decline (Y-o-Y): -37.8% -Analysts Estimate: $0.64 -Revenue (Q2): $1.61 Bln vs. $2.01 Bln last year. -Revenue Change (Y-o-Y): -19.9%