Franklin Resources: Fiscal Q3 Earnings Snapshot

July 28, 2022 GMT

SAN MATEO, Calif. (AP) _ Franklin Resources Inc. (BEN) on Thursday reported fiscal third-quarter profit of $256.4 million.

On a per-share basis, the San Mateo, California-based company said it had net income of 50 cents. Earnings, adjusted for non-recurring costs, were 82 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The investment manager posted revenue of $2.03 billion in the period.

Franklin Resources shares have fallen 24% since the beginning of the year, while the S&P’s 500 index has dropped 16%. The stock has dropped 14% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BEN at https://www.zacks.com/ap/BEN