Franklin Resources Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Franklin Resources Inc. (BEN) revealed a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $227.5 million, or $0.44 per share. This compares with $256.4 million, or $0.50 per share, in last year's third quarter.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $326.1 million or $0.63 per share for the period.

Analysts on average had expected the company to earn $0.6 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.1% to $1.969 billion from $2.031 billion last year.

Franklin Resources Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $227.5 Mln. vs. $256.4 Mln. last year. -EPS (Q3): $0.44 vs. $0.50 last year. -Analyst Estimates: $0.6 -Revenue (Q3): $1.969 Bln vs. $2.031 Bln last year.