Earnings Summary: Highlights of Franklin Resources’ Q1 2024 results

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Earnings Summary: Highlights of Franklin Resources’ Q1 2024 results

Asset management company Franklin Resources, Inc. (NYSE: BEN) has reported financial results for the first quarter of fiscal 2024.

Q1 net income increased to $251.3 million or $0.50 per share from $165.6 million or $0.32 per share in the first quarter of 2023Adjusted net income was $328.5 million or $0.65 in Q1, vs. $262.4 million or $0.51 per share a year earlierOperating income was $206.5 million in the December quarter, compared to $194.0 million in the prior-year quarterTotal assets under management came in at $1.46 trillion in the three months, up 5% from the year-ago quarterAt the end of the quarter, the company had cash, cash equivalents, and investments of $6.7 billion, including its direct investments in consolidated investment productsTotal stockholders’ equity was $12.6 billion, with 494.7 million shares of common stock outstanding on December 31Repurchased 2.4 million shares of its common stock for a total cost of $58.8 million during the quarter

The post Earnings Summary: Highlights of Franklin Resources’ Q1 2024 results first appeared on AlphaStreet.

 

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