Franklin Resources (BEN) Misses Q1 EPS by 11c
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Franklin Resources, Inc. Announces First Quarter Results
January 30, 2019 8:31 AM ESTSAN MATEO, Calif., Jan. 30, 2019 (GLOBE NEWSWIRE) -- Franklin Resources, Inc. (the Company) [NYSE: BEN] today announced net income1 of $275.9 million or $0.54 per diluted share for the quarter ended December 31, 2018, as compared to $502.5 million or $0.96 per diluted share for the previous quarter, which included an $89.6 million or $0.17 per diluted share reduction of the estimated income tax charge2 resulting from enactment of the Tax Cuts and Jobs Act of 2017 (the Tax Act). The mark-to-market of the Companys investment portfolio led to nonoperating losses that contributed to the decline in net income for the quarter ended December 31, 2018. The Company had a net... More
