Franklin Resources Inc. Q3 adjusted earnings Beat Estimates

(RTTNews) - Franklin Resources Inc. (BEN) announced a profit for its third quarter that rose from the same period last year.

The company's profit came in at $290.4 million, or $0.58 per share. This compares with $245.9 million, or $0.48 per share, in last year's third quarter.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $348.9 million or $0.70 per share for the period.

Analysts had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 19.6% to $1.19 billion from $1.48 billion last year.

Franklin Resources Inc. earnings at a glance:

-Earnings (Q3): $348.9 Mln. vs. $281.5 Mln. last year. -EPS (Q3): $0.70 vs. $0.55 last year. -Analysts Estimate: $0.55 -Revenue (Q3): $1.19 Bln vs. $1.48 Bln last year.