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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
05/28/201516:33:32Statement of Changes in Beneficial Ownership (4)
05/27/201516:30:00Invesco Mortgage Capital Inc. To Present at the 2015 Morgan Stanley...
05/26/201516:30:00Invesco Mortgage Capital Inc. To Present at the Keefe, Bruyette...
05/26/201514:00:00Invesco PowerShares and FTSE Russell Expand Smart Beta Relationship...
05/26/201508:00:00Invesco PowerShares Announced Changes to ETF Family Take Effect
05/21/201516:15:00Invesco Canada simplifie et renforce sa gamme de produits
05/21/201516:15:00Invesco Canada simplifies and strengthens product lineup
05/21/201516:05:00Invesco Ltd. To Speak at KBW Asset Management and Capital Markets...
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201515:00:00PowerShares Canada annonce des distributions en espèces pour...
05/19/201515:00:00PowerShares Canada announces cash distributions for TSX-listed...
05/15/201516:13:02Current Report Filing (8-k)
05/15/201515:58:09Initial Statement of Beneficial Ownership (3)
05/15/201510:23:41Form 13f Holdings Report (13f-hr)
05/13/201516:15:00Invesco Mortgage Capital To Present at the 2015 Wells Fargo Securities...
05/12/201508:06:34Current Report Filing (8-k)
05/11/201516:31:15Statement of Changes in Beneficial Ownership (4)
05/11/201516:05:00Invesco Ltd. Announces April 30, 2015 Assets Under Management
05/11/201511:27:00Invesco PowerShares Announces Launch of Europe Currency Hedged...
05/06/201516:05:00Invesco Mortgage Capital Inc. Reports First Quarter 2015 Financial...

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