Franklin (BEN) Q2 Earnings Miss, Revenues Beat on High AUM

Franklin Resources Inc.’s (BEN) second-quarter fiscal 2024 (ended Mar 31, 2023) adjusted earnings of 56 cents per share missed the Zacks Consensus Estimate of 57 cents. The bottom line declined 8% year over year.BEN’s results have benefited from a rise in revenues and an improvement in the assets under management (AUM) balance. Also, the company’s balance sheet position remained robust in the quarter. However, higher expenses were headwinds.   Adjusted operating income was $419.6 million compared with the p ...