Franklin Resources Q2 Net Income Declines

(RTTNews) - Franklin Resources, Inc. (BEN) reported second quarter net income of $124.2 million or $0.23 per share, compared to $194.2 million or $0.38 per share for the quarter ended March 31, 2023. Adjusted net income was $306.6 million and adjusted earnings per share was $0.56, as compared to $316.7 million and $0.61. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.57, for the quarter. Analysts' estimates typically exclude special items.

Operating revenues was $2.15 billion, up 12% from a year ago. Analysts on average had estimated $1.66 billion in revenue.

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