Waddell & Reed Financial Investment Q3 Profit Falls 36%

(RTTNews) - Waddell & Reed Financial Investment (WDR) released earnings for third quarter that retreated from last year.

The company said its bottom line declined to $48.06 million, or $0.58 per share. This was lower than $74.59 million, or $0.89 per share, in last year's third quarter.

Analysts had expected the company to earn $0.72 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 8.2% to $376.11 million. This was down from $409.56 million last year.

Waddell & Reed Financial Investment earnings at a glance:

-Earnings (Q3): $48.06 Mln. vs. $74.59 Mln. last year. -Earnings Decline (Y-o-Y): -35.6% -EPS (Q3): $0.58 vs. $0.89 last year. -EPS Decline (Y-o-Y): -34.8% -Analysts Estimate: $0.72 -Revenue (Q3): $376.11 Mln vs. $409.56 Mln last year. -Revenue Change (Y-o-Y): -8.2%