Franklin Resources: Fiscal Q4 Earnings Snapshot

SAN MATEO, Calif. (AP) — SAN MATEO, Calif. (AP) — Franklin Resources Inc. (BEN) on Friday reported fiscal fourth-quarter net income of $117.6 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Mateo, California-based company said it had net income of 21 cents. Earnings, adjusted for one-time gains and costs, came to 67 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The investment manager posted revenue of $2.34 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $2.12 billion.

For the year, the company reported profit of $524.9 million, or 91 cents per share. Revenue was reported as $8.77 billion.

Franklin Resources shares have increased 15% since the beginning of the year, while the S&P’s 500 index has increased 14%. The stock has climbed 8% 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