Federated Investors Earnings: Doubled Digit Growth on Two Fronts
Federated Investors, Inc. (NYSE:FII) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation.
Federated Investors, Inc. Earnings Cheat Sheet
Results: Net income increased 34.27% to $49.6 million (44 cents per diluted share) in the quarter versus a net gain of $36.94 million in the year-earlier quarter.
Revenue: Rose 11.81% to $244.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Federated Investors, Inc. reported adjusted net income of 44 cents per share. By that measure, the company beat the mean analyst estimate of $0.40. It missed the average revenue estimate of $251.03 million.
Quoting Management: “In 2012, Federated’s range of income-oriented investment strategies proved to be highly attractive options for investors,” said J. Christopher Donahue, President and CEO…