PITTSBURGH (AP) — PITTSBURGH (AP) — Federated Hermes, Inc. (FHI) on Thursday reported first-quarter profit of $75 million.
The Pittsburgh-based company said it had net income of 89 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 89 cents per share.
The one of the nation's largest managers of money market funds posted revenue of $396.4 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $324.9 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FHI at https://www.zacks.com/ap/FHI