Franklin Q4 Earnings Miss on Higher Costs, AUM Rises Sequentially

Franklin Resources Inc. (BEN) reported fourth-quarter fiscal 2024 (ended Sept. 30) adjusted earnings of 59 cents per share, which missed the Zacks Consensus Estimate of 60 cents. Also, the bottom line decreased 29.7% from the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.BEN’s results were affected by a rise in its operating expenses. However, an increase in assets under management (AUM) balances, along with rising revenues, offered support. Net loss was $84.7 m ...