Federated Investors Q2 Profit Tops Estimates - Quick Facts

(RTTNews) - Federated Investors, Inc. (FII), one of the nation's largest investment managers, reported second-quarter net income of $41.8 million compared to $36.9 million, last year. Earnings per share was $0.40 compared to $0.35.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.38 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $228.13 million compared to $212.98 million, a year ago. Analysts expected revenue of $225.73 million for the quarter.

The company said its revenue increased by 7 percent primarily due to a decrease in voluntary fee waivers related to certain money market funds in order for those funds to maintain positive or zero net yields and an increase in revenue from higher average equity assets.

Federated's board declared a dividend of $0.25 per share. The dividend is payable on Aug. 14, 2015 to shareholders of record as of Aug. 7, 2015.