MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, October 25, 2012 Franklin Beats Expectations Franklin Templeton parent Franklin Resources [profile] reported net income of $492.1 million for the fourth quarter ending on September 30. That is up 8 percent from the previous quarter as well as up 18.29 precent from the same period a year ago. Operating revenues for the quarter were $1.816 billion, a nearly 2 percent increase from the previous quarter but down 1.14 percent from a year ago. Total assets under management were $749.9 billion at September 30, 2012, up $42.8 billion or 6 percent during the quarter. The increase was primarily due to $40.8 billion in market appreciation. AUM increased $90.0 billion or 14 percent year-over-year, primarily due to $96.4 billion in market appreciation. The firm earned $1.143 billion in investment management fees for the quarter, down roughly 4 percent from the same period a year ago. Total operating expenses reached $1.194 billion for the quarter, up about 4 percent from the same period a year ago. The results beat, by a hair, the Zacks Consensus Estimate The firm earned $2.31 per share during the quarter, compared to the consensus expectation of $2.30. Printed from: MFWire.com/story.asp?s=41798 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |