Franklin Resources Inc. Q3 Profit Decreases, but beats estimates

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

The company's bottom line totaled $256.4 million, or $0.50 per share. This compares with $438.4 million, or $0.86 per share, in last year's third quarter.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $416.0 million or $0.82 per share for the period.

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

The company's revenue for the quarter fell 6.5% to $2.03 billion from $2.17 billion last year.

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

-Earnings (Q3): $256.4 Mln. vs. $438.4 Mln. last year. -EPS (Q3): $0.50 vs. $0.86 last year. -Analyst Estimates: $0.75 -Revenue (Q3): $2.03 Bln vs. $2.17 Bln last year.