Franklin Resources Q2 2024 Adj EPS $0.56 Misses $0.57 Estimate, Sales $2.153B Beat $1.665B Estimate
Portfolio Pulse from Benzinga Newsdesk
Franklin Resources (NYSE:BEN) reported Q2 2024 earnings of $0.56 per share, missing the consensus estimate of $0.57 by 1.75%. However, their quarterly sales of $2.153 billion exceeded expectations by 29.30%, marking an 11.71% increase from the previous year.
April 29, 2024 | 12:31 pm
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Franklin Resources reported a slight miss on EPS but significantly beat sales estimates for Q2 2024, indicating strong revenue growth.
While the earnings per share (EPS) miss might initially concern investors, the substantial beat on sales estimates and the year-over-year revenue growth are likely to be viewed positively. The mixed results could lead to neutral short-term stock price movement as the market digests both the earnings miss and the strong sales performance.
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IMPORTANCE 90
RELEVANCE 100