WASHINGTON (dpa-AFX) - Franklin Resources Inc. (BEN) reported second-quarter net income attributable to the company of $503.22 million or $2.32 per share, compared with $503.1 million or $2.25 per share a year earlier. On average, 19 analysts polled by Thomson Reuters expected earnings per share of $2.23 for the quarter. Analysts' estimates typically exclude one-time items.
Total operating revenues for the period climbed 3% to $1.80 billion from $1.75 billion in the comparable period last year. Analysts estimated revenues of $1.74 billion for the quarter.
Total assets under management or 'AUM' were $725.7 billion at March 31, 2012, up 8% during the quarter, driven by $50.9 billion in market appreciation and net new flows of $5.6 billion.
Copyright RTT News/dpa-AFX
© 2012 AFX News
