Franklin Resources Achieves 8% Revenue Growth Amid Declining Net Income in Q3 2024

Friday, 26 July 2024, 15:33

Franklin Resources, Inc. (NYSE: BEN) has announced an impressive 8% increase in revenue for the third quarter of fiscal 2024 despite a drop in net income. The company reported revenue growth to $xxx million, while net income fell to $174 million or $0.32 per share compared to $227.5 million or $0.44 per share a year earlier. Adjusted net income remained stable at $326.4 million, and the firm shows resilience in the asset management sector. The performance highlights positive trends in revenue generation even in challenging conditions.
AlphaStreet
Franklin Resources Achieves 8% Revenue Growth Amid Declining Net Income in Q3 2024

Franklin Resources' Q3 2024 Earnings Summary

Asset management company Franklin Resources, Inc. (NYSE: BEN) recently published its earnings for the third quarter of fiscal 2024, showcasing some significant metrics.

Key Financial Metrics

  • Revenue Growth: An 8% increase in revenues.
  • Net Income Decline: Net income decreased to $174.0 million or $0.32 per share this quarter.
  • Adjusted Net Income Stability: Adjusted net income was reported at $326.4 million or $0.60 per share.

Conclusion

Despite the decline in net income, Franklin Resources demonstrates adaptability with revenue growth, reinforcing its standing in the asset management industry.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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