WASHINGTON (dpa-AFX) - Asset manager Janus Capital Group, Inc. (JNS) Wednesday reported second-quarter earnings that more than doubled on the back of growth in investment management fees. While earnings topped analysts' estimates by a penny, revenues fell short.
For the three months to June, net earnings grew to $36.3 million or $0.19 per share, from $15.8 million, or $0.08 per share a year earlier.
On average, eleven analysts polled by Thomson-Reuters estimated the company's earnings to be $0.18 for the quarter. Analysts' estimates typically exclude one-time items.
Prior-year results included a $12.6 million loss on early extinguishment of debt.
Quarterly revenues rose to $231.2 million, from $215.8 million last year, but were shy of the $235.49 million Wall Street expected.
Average assets under management during the period rose to $174.4 billion from $164.2 billion billion in the corresponding period last year.
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