Franklin Resources Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Franklin Resources Inc. (BEN) released earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $349.6 million, or $0.68 per share. This compares with $381.8 million, or $0.74 per share, in last year's second quarter.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $491.6 million or $0.96 per share for the period.

Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenue came in at $2.08 billion, equal to the mark posted in the same period last year.

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

-Earnings (Q2): $349.6 Mln. vs. $381.8 Mln. last year. -EPS (Q2): $0.68 vs. $0.74 last year. -Analyst Estimates: $0.82 -Revenue (Q2): $2.08 Bln vs. $2.08 Bln last year.