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Franklin Resources fiscal Q3 operating revenue rises 3% Q/Q

Jul. 30, 2019 8:50 AM ETFranklin Resources, Inc. (BEN) StockBENBy: Liz Kiesche, SA News Editor
  • Franklin Resources (NYSE:BEN) fiscal Q3 adjusted EPS of 65 cents beats the average analyst estimate of 62 cents.
  • Compares with 72 cents in fiscal Q2 and 75 cents in Q3 2018.
  • Operating revenue for the quarter ended June 30, 2019 of $1.48B rose 3% Q/Q and fell 5% Y/Y.
  • With a tax charge of $86.4M, or 17 cents per share, due to a revision to its estimated tax expense upon issuance of final regulations related to the Tax Cuts and Jobs Act of 2017, Q3 2019 net income came to $245.9M, or 48 cents per share.
  • Q3 operating margin of 25.4% fell from 26.5% in Q2 and 32.3% in the year-ago quarter.
  • Assets under management at June 30, 2019 of $715.2B increased from $712.3B at March 31, 2019 as $8.3M of net market change, distributions and other were partly offset by $5.4B of net outflows.
  • Conference call at 11:00 AM ET.
  • Previously: Franklin Resources EPS beats by $0.03, revenue in-line (July 30)

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