Franklin Resources Q2 Profit Up 17%; Results Beat View - Quick Facts

(RTTNews) - Franklin Resources, Inc. (BEN) reported a 17 percent increase in profit for the second quarter from last year despite a slight decline in revenues. However, results for the quarter beat analysts ' estimates.

The company's second-quarter net income was $420.7 million or $0.74 per share, up from $360.4 million or $0.61 per share in the year-ago period.

On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.67 for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter declined 1 percent year-over-year to $1.60 billion from $1.61 billion in the same period last year. Analysts expected revenue of $1.57 billion for the quarter.

Total assets under management or AUM were $740.0 billion at the end of the second quarter, up $20.0 billion during the quarter due to $31.0 billion of net market change and other, partially offset by $11.0 billion of net outflows.