Franklin Resources Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Franklin Resources Inc. (BEN) revealed earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $194.2 million, or $0.38 per share. This compares with $349.6 million, or $0.68 per share, in last year's second quarter.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $316.7 million or $0.61 per share for the period.

Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.2% to $1.93 billion from $2.08 billion last year.

Franklin Resources Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $194.2 Mln. vs. $349.6 Mln. last year. -EPS (Q2): $0.38 vs. $0.68 last year. -Analyst Estimates: $0.56 -Revenue (Q2): $1.93 Bln vs. $2.08 Bln last year.