Franklin Resources tops 4Q profit forecasts

Scott Mlyn | CNBC

Franklin Resources on Monday reported fiscal fourth-quarter profit of $640.6 million.

The San Mateo, California-based company said it had profit of $1.02 per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The investment manager posted revenue of $2.16 billion in the period, which missed Street forecasts. Analysts expected $2.17 billion, according to Zacks.

Franklin Resources shares have fallen 7.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 6 percent. The stock has decreased 2 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. BEN stock research report from Zacks.