Franklin Resources Inc. Bottom Line Drops 21% In Q1

(RTTNews) - Franklin Resources Inc. (BEN) announced earnings for first quarter that declined compared to the same period last year.

The company said its profit dropped to $447.8 million, or $0.74 per share. This was lower than $566.4 million, or $0.91 per share, in last year's first quarter.

Analysts had expected the company to earn $0.75 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 14.6% to $1.76 billion. This was down from $2.06 billion last year.

Franklin Resources Inc. earnings at a glance:

-Earnings (Q1): $447.8 Mln. vs. $566.4 Mln. last year. -Earnings Decline (Y-o-Y): -20.9% -EPS (Q1): $0.74 vs. $0.91 last year. -EPS Decline (Y-o-Y): -18.7% -Analysts Estimate: $0.75 -Revenue (Q1): $1.76 Bln vs. $2.06 Bln last year. -Revenue Change (Y-o-Y): -14.6%