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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;

Stock News for Invesco Ltd (IVZ)
10/19/201615:20:00Invesco annonce des distributions en espèces pour les FNB PowerShares...
10/19/201615:20:00Invesco announces cash distributions for Canadian-listed PowerShares...
10/13/201616:15:00Invesco Ltd. To Announce Third Quarter 2016 Results
10/13/201612:25:00Invesco Advisers Announces Portfolio Management Changes to Invesco...
10/12/201608:41:48Current Report Filing (8-k)
10/11/201616:15:00Invesco Ltd. Announces September 30, 2016 Assets Under Management...
10/03/201612:00:00Invesco Closed-End Funds Declare Dividends
09/22/201609:00:00PowerShares Launches Variable Rate Investment Grade Portfolio...
09/21/201609:00:00Survey Forecasts Rising Usage of Factor-Based ETFs as "Next Wave...
09/20/201616:23:00Invesco annonce des distributions en espèces pour les FNB PowerShares...
09/20/201616:15:00Invesco announces cash distributions for Canadian-listed PowerShares...
09/16/201615:30:00Illinois State-Workers Pension Board Switches to Funds That Track...
09/14/201616:15:00Invesco Mortgage Capital Inc. Announces Quarterly Common and...
09/13/201616:38:00Invesco Ltd. to host a meeting highlighting leadership in ETFs...
09/13/201608:26:44Current Report Filing (8-k)
09/12/201616:16:03Statement of Changes in Beneficial Ownership (4)
09/12/201616:15:00Invesco Ltd. Announces August 31, 2016 Assets Under Management
09/06/201616:36:00Invesco Closed-End Funds Conduct Annual Meetings of Shareholders
09/01/201618:12:00Invesco Closed-End Funds Declare Dividends
08/19/201613:30:00Invesco annonce des distributions en espèces pour les FNB PowerShares...

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