Legg Mason: Fiscal 2Q Earnings Snapshot
BALTIMORE (AP) _ Legg Mason Inc. (LM) on Wednesday reported fiscal second-quarter net income of $67.1 million.
The Baltimore-based company said it had profit of 74 cents per share. Earnings, adjusted for one-time gains and costs, came to 95 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The money manager posted revenue of $743.3 million in the period.
Legg Mason shares have risen 44% since the beginning of the year, while the Standard & Poor’s 500 index has risen 22%. In the final minutes of trading on Wednesday, shares hit $36.62, an increase of 31% in the last 12 months.