SAN MATEO, Calif. (AP) 鈥� SAN MATEO, Calif. (AP) 鈥� Franklin Resources Inc. (BEN) on Tuesday reported fiscal second-quarter earnings of $268.2 million.
On a per-share basis, the San Mateo, California-based company said it had profit of 49 cents. Earnings, adjusted for one-time gains and costs, came to 71 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The investment manager posted revenue of $2.29 billion in the period.
Franklin Resources shares have climbed 15% since the beginning of the year, while the S&P’s 500 index has risen almost 5%. The stock has risen 47% in the last 12 months.
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