Franklin Resources Inc. Q2 Profit Increases, But Misses Estimates

(RTTNews) - Franklin Resources Inc. (BEN) announced earnings for its second quarter that increased from the same period last year but missed the Street estimates.

The company's earnings came in at $151.4 million, or $0.26 per share. This compares with $124.2 million, or $0.23 per share, last year.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $254.4 million or $0.47 per share for the period.

Analysts on average had expected the company to earn $0.48 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 1.9% to $2.111 billion from $2.152 billion last year.

Franklin Resources Inc. earnings at a glance (GAAP) :

-Earnings: $151.4 Mln. vs. $124.2 Mln. last year. -EPS: $0.26 vs. $0.23 last year. -Revenue: $2.111 Bln vs. $2.152 Bln last year.

For the second quarter, the company posted Assets Under Management of $1.540 trillion, less than $1.644 trillion, recorded for the same period last year.