Franklin Resources Q4 Profit Falls - Quick Facts

(RTTNews) - Franklin Resources Inc. (BEN) reported fourth-quarter 2015 preliminary net income attributable to the company of $358.2 million or $0.59 per share, down from $640.6 million or $1.02 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share for the quarter. Analysts' estimates typically exclude special items.

Total assets under management ("AUM") were $770.9 billion at September 30, 2015, down $95.6 billion or 11% during the quarter primarily due to $61.2 billion of market depreciation, $28.6 billion of net new outflows, and a $4.6 billion decrease from foreign exchange revaluation.

Total operating revenues for the quarter dropped to $1.87 billion from $2.16 billion in the prior year. Wall Street expected revenues of $1.90 billion.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.77 per share and revenues of $1.90 billion for the quarter. Analysts' estimates typically exclude special items.