Waddell & Reed Financial Q4 Profit Tops View - Quick Facts

(RTTNews) - Waddell & Reed Financial, Inc. (WDR) Tuesday said fourth-quarter net income increased to $80.9 million or $0.97 per share from $78.8 million or $0.92 per share in the comparable quarter last year.

On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.89 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues rose 6 percent to $397.15 million from $375.00 million in the prior year. The increase was due to higher average assets under management during the current quarter compared to the same quarter in 2013, which resulted in higher underwriting and distribution fees and management fee revenues.

Analysts expected revenues of $389.64 million for the quarter.