Franklin Resources Q3 Adj EPS $0.63 Beats $0.60 Estimate, Sales $1.97B Beat $1.90B Estimate
Portfolio Pulse from Benzinga Newsdesk
Franklin Resources (NYSE:BEN) reported Q3 adjusted earnings of $0.63 per share, beating the analyst consensus estimate of $0.60 by 5%. However, this is a 23.17% decrease from the same period last year. The company also reported quarterly sales of $1.97 billion, surpassing the analyst consensus estimate of $1.90 billion by 3.52%, but this is a 3.05% decrease from the same period last year.
July 28, 2023 | 12:32 pm
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Franklin Resources beat Q3 earnings and sales estimates, but both figures decreased compared to the same period last year.
While Franklin Resources beat the Q3 earnings and sales estimates, the year-over-year decrease in both earnings per share and sales could potentially offset the positive impact of beating estimates. This mixed result makes the short-term impact on the stock price uncertain.
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