Franklin Resources Q1 Adj EPS $0.65 Beats $0.57 Estimate, Sales $1.99B Beat $1.52B Estimate
Portfolio Pulse from Benzinga Newsdesk
Franklin Resources (NYSE:BEN) reported Q1 adjusted earnings per share (EPS) of $0.65, surpassing the consensus estimate of $0.57 by 14.04%. Year-over-year, this represents a 27.45% increase from $0.51 EPS. Quarterly sales reached $1.99 billion, exceeding estimates of $1.52 billion by 31.25% and marking a 1.22% increase from the previous year.
January 29, 2024 | 1:31 pm
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Franklin Resources reported strong Q1 results, with both EPS and sales figures surpassing analyst estimates, indicating robust financial performance.
Franklin Resources' significant beat on both earnings and revenue estimates is likely to instill investor confidence and could lead to a positive short-term reaction in the stock price. The substantial year-over-year growth in earnings and the beat on sales estimates by a wide margin are key drivers of potential stock appreciation.
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