Franklin Resources Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Franklin Resources Inc. (BEN) reported a profit for its third quarter that increased from last year.

The company's bottom line totaled $438.4 million, or $0.86 per share. This compares with $290.4 million, or $0.58 per share, in last year's third quarter.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $493.7 million or $0.96 per share for the period.

Analysts had expected the company to earn $0.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 87.1% to $2.17 billion from $1.16 billion last year.

Franklin Resources Inc. earnings at a glance:

-Earnings (Q3): $493.7 Mln. vs. $348.9 Mln. last year. -EPS (Q3): $0.96 vs. $0.70 last year. -Analysts Estimate: $0.80 -Revenue (Q3): $2.17 Bln vs. $1.16 Bln last year.