FX.co ★ Franklin Resources Q2 Net Income Declines

Franklin Resources, Inc. announced its second quarter net income at $124.2 million, or $0.23 per share. This stands in contrast to the previous year's same quarter figures of $194.2 million, or $0.38 per share, as of March 31, 2023. However, the adjusted net income was reported as $306.6 million, and the adjusted earnings per share was $0.56 in contrast to the previous year's numbers of $316.7 million and $0.61 respectively. It's noteworthy that a group of ten analysts working with Thomson Reuters speculated an expected profit per share of $0.57 for the quarter, generally not considering any special items.

The operating revenues have seen a boost, being reported at $2.15 billion, marking a 12% growth from the previous year's figures. On average, analysts had estimated the revenue to hit around $1.66 billion.