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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
08/19/201613:30:00Invesco annonce des distributions en espèces pour les FNB PowerShares...
08/19/201613:30:00Invesco announces cash distributions for Canadian-listed PowerShares...
08/15/201613:37:38Form 13f Holdings Report (13f-hr)
08/10/201609:39:26Current Report Filing (8-k)
08/09/201616:15:00Invesco Ltd. Announces July 31, 2016 Assets Under Management
08/02/201616:42:02Statement of Changes in Beneficial Ownership (4)
08/02/201616:37:03Statement of Changes in Beneficial Ownership (4)
08/02/201616:36:37Statement of Changes in Beneficial Ownership (4)
08/02/201616:30:57Statement of Changes in Beneficial Ownership (4)
08/02/201616:22:05Statement of Changes in Beneficial Ownership (4)
08/02/201616:21:13Statement of Changes in Beneficial Ownership (4)
08/02/201616:19:55Statement of Changes in Beneficial Ownership (4)
08/02/201616:18:39Statement of Changes in Beneficial Ownership (4)
08/01/201614:30:00Invesco Closed-End Funds Declare Dividends
07/29/201614:00:00Invesco Canada abaisse le niveau de risque de quatre fonds
07/29/201614:00:00Invesco Canada lowers risk rating on four funds
07/28/201615:37:08Quarterly Report (10-q)
07/28/201608:26:54Current Report Filing (8-k)
07/28/201606:55:00Invesco Reports Results for the Three Months Ended June 30, 2016
07/19/201613:00:00PowerShares Canada annonce des distributions en espèces pour...

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