Asset administration firm Franklin Sources, Inc. (NYSE: BEN) on Friday reported a rise in revenues for the third quarter of fiscal 2024.
- Third-quarter internet revenue decreased to $174.0 million or $0.32 per share from $227.5 million or $0.44 per share final 12 months
- Adjusted internet revenue was $326.4 million or $0.60 per share in Q3, vs. $326.1 million or $0.63 per share within the prior-year quarter
- June-quarter working revenue declined to $222.5 million from $314.9 million within the corresponding interval of 2023
- Adjusted working revenue got here in at $424.9 million in Q3, in comparison with $476.8 million in the identical quarter final 12 months
- Complete property underneath administration had been $1.65 trillion on June 30, 2024, representing a $1.9 billion progress throughout the quarter
- On the finish of the quarter, money, money equivalents, and investments had been $5.6 billion; together with the corporate’s direct investments in consolidated funding merchandise, it was $6.8 billion
- The corporate repurchased 4.3 million shares of its frequent inventory for a complete value of $101.5 million throughout the quarter
