Eaton Vance Q1 Earnings Up, Yet Miss Estimates

(RTTNews) - Eaton Vance Corp. (EV), a company engaged in the marketing, and management of investment funds, Wednesday reported a rise in earnings for the first quarter, with growth in revenue. However, adjusted earnings missed analysts' estimates by a penny.

Earnings attributable to shareholders increased to $71.36 million or $0.56 per share from $49.8 million or $0.38 per share a year earlier.

Excluding certain items, earnings totaled $73.75 million or $0.58 per share. On average, 12 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.59 for the quarter. Analysts's estimates typically exclude one-time items.

Revenue for the 3-month period stood at $360.26 million, compared with $318.52 million a year earlier. Analysts had expected the company to report revenue of $365.63 million.