Franklin Resources Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Franklin Resources Inc. (BEN) revealed a profit for first quarter that declined from the same period last year.

The company's bottom line came in at $345.3 million, or $0.67 per share. This compares with $350.5 million, or $0.70 per share, in last year's first quarter.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $373.4 million or $0.73 per share for the period.

Analysts had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 43.2% to $1.99 billion from $1.39 billion last year.

Franklin Resources Inc. earnings at a glance:

-Earnings (Q1): $373.4 Mln. vs. $338.3 Mln. last year. -EPS (Q1): $0.73 vs. $0.67 last year. -Analysts Estimate: $0.72 -Revenue (Q1): $1.99 Bln vs. $1.39 Bln last year.