SAN MATEO, Calif. (AP) — SAN MATEO, Calif. (AP) — Franklin Resources Inc. (BEN) on Tuesday reported fiscal fourth-quarter earnings of $295.5 million.
The San Mateo, California-based company said it had net income of 58 cents per share. Earnings, adjusted for one-time gains and costs, were 84 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The investment manager posted revenue of $1.99 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $1.87 billion.
Franklin Resources shares have decreased 15% since the beginning of the year, while the S&P's 500 index has climbed 8.5%. The stock has decreased 5% in the last 12 months.
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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 BEN at https://www.zacks.com/ap/BEN