Franklin Resources Inc. Q4 Profit Decreases, but beats estimates

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

The company's bottom line came in at $232.7M, or $0.46 per share. This compares with $665.7M, or $1.30 per share, in last year's fourth quarter.

Excluding items, Franklin Resources Inc. reported adjusted earnings of $394.4M or $0.78 per share for the period.

Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.1% to $1.939 billion from $2.181 billion last year.

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

-Earnings (Q4): $232.7M. vs. $665.7M. last year. -EPS (Q4): $0.46 vs. $1.30 last year. -Analyst Estimates: $0.67 -Revenue (Q4): $1.939 Bln vs. $2.181 Bln last year.