Franklin Resources Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Franklin Resources Inc. (BEN) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $251.3 million, or $0.50 per share. This compares with $165.6 million, or $0.32 per share, in last year's first quarter.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $328.5 million or $0.65 per share for the period.

Analysts on average had expected the company to earn $0.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.0% to $1.99 billion from $1.97 billion last year.

Franklin Resources Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $251.3 Mln. vs. $165.6 Mln. last year. -EPS (Q1): $0.50 vs. $0.32 last year. -Analyst Estimate: $0.57 -Revenue (Q1): $1.99 Bln vs. $1.97 Bln last year.