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Invesco 2Q Profit Falls 46% On Merger-Related Charges

DOW JONES NEWSWIRES Invesco Ltd.'s (IVZ) second-quarter earnings fell 46% as the money manager's revenue climbed on a recent acquisition but its bottom line was hurt by $79.3 million of merger-related charges. The company, like others in the sector, rebounded from year-earlier problems in recent quarters, helped by revived markets. Invesco's bottom line had been boosted by investment gains and increased fees. The company also stands to benefit long-term from last month's $1.7 billion buy of Morgan Stanley's (MS) retail asset-management business, which includes the Van Kampen fund unit. Invesco posted a profit of $40.8 million, or 9 cents a share, down from $75.7 million, or 18 cents, a year earlier. Excluding items such as the merger-related charges, earnings rose to 27 cents from 21 cents as revenue jumped 26% to $787 million amid the acquisition. Analysts polled by Thomson Reuters had most recently forecast earnings of 27 cents on $772 million in revenue. Assets under management rose to $557.7 billion as of June 30, up from $457.7 billion on March 31, on the acquisition. Long-term net inflows were $13.9 billion, up from $3.6 billion in the first quarter. Institutional money-market net outflows were $900 million, down sequentially from $10.6 billion. Shares closed at $19.83 Monday and were inactive premarket. The stock has fallen 16% so far this year. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com

Stock News for Invesco Ltd (IVZ)
DateTimeHeadline
02/02/201616:35:43Statement of Changes in Beneficial Ownership (4)
02/02/201616:33:53Statement of Changes in Beneficial Ownership (4)
02/02/201616:31:47Statement of Changes in Beneficial Ownership (4)
02/02/201616:30:00Statement of Changes in Beneficial Ownership (4)
02/02/201616:26:03Statement of Changes in Beneficial Ownership (4)
02/02/201616:24:46Statement of Changes in Beneficial Ownership (4)
02/02/201616:19:22Statement of Changes in Beneficial Ownership (4)
02/01/201612:00:00Invesco Closed-End Funds Declare Dividends
01/29/201616:15:00Invesco Advisers Announces Investment Policy Change for Invesco...
01/29/201616:15:00Invesco Announces Appointment of Two New Trustees for Closed-End...
01/28/201616:53:00Invesco Mortgage Capital Closes on $28 Million Mezzanine Loan
01/28/201608:07:27Current Report Filing (8-k)
01/28/201607:41:00Invesco Reports Results for the Year and Three Months Ended December...
01/28/201607:26:00Invesco Reports Results for the Year and Three Months Ended December...
01/26/201616:41:27Amended Statement of Ownership (sc 13g/a)
01/26/201612:00:00Invesco Canada annonce l'évolution de l'équipe des actions c...
01/26/201612:00:00Invesco Canada announces evolution of Trimark Canadian Equities...
01/19/201617:00:00PowerShares Canada annonce des distributions en espèces pour...
01/19/201617:00:00PowerShares Canada announces cash distributions for TSX-listed...
01/14/201616:15:00Invesco Ltd. To Announce Fourth Quarter 2015 Results

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