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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; [email protected]

Stock News for Invesco Ltd (IVZ)
DateTimeHeadline
03/22/201716:43:49Statement of Changes in Beneficial Ownership (4)
03/21/201713:30:00Invesco annonce des distributions en espèces pour les FNB PowerShares...
03/21/201713:30:00Invesco announces cash distributions for Canadian-listed PowerShares...
03/17/201716:30:02Statement of Changes in Beneficial Ownership (4)
03/17/201716:15:00Invesco High Income 2023 Target Term Fund Enters into Repurchase...
03/17/201714:30:00Invesco Canada remet ses actions de Savanna Energy Services Corp.
03/17/201714:30:00Invesco Canada tenders shares of Savanna Energy Services Corp.
03/15/201716:48:00Invesco Mortgage Capital Inc. Announces Quarterly Common and...
03/10/201716:06:00Invesco Announces Changes to PowerShares Taxable Municipal Bond...
03/10/201715:03:52Amended Statement of Ownership (sc 13g/a)
03/10/201708:29:04Current Report Filing (8-k)
03/09/201716:15:00Invesco Ltd. Announces February 28, 2017 Assets Under Management
03/07/201707:30:00Invesco lance un FNB à dividendes élevés et un autre à faible vol...
03/07/201707:30:00Invesco launches high-dividend, low-volatility ETFs
03/03/201716:40:02Initial Statement of Beneficial Ownership (3)
03/03/201716:18:41Proxy Statement - Notice of Shareholders Meeting (preliminary...
03/02/201717:06:47Statement of Changes in Beneficial Ownership (4)
03/02/201717:05:55Statement of Changes in Beneficial Ownership (4)
03/02/201717:02:20Statement of Changes in Beneficial Ownership (4)
03/02/201717:00:58Statement of Changes in Beneficial Ownership (4)

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