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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
03/27/201516:06:11Additional Proxy Soliciting Materials (definitive) (defa14a)
03/27/201516:04:27Proxy Statement (definitive) (def 14a)
03/23/201517:11:07Current Report Filing (8-k)
03/23/201517:09:21Additional Proxy Soliciting Materials (definitive) (defa14a)
03/23/201517:00:00Invesco Ltd. Nominates Sir Nigel Sheinwald to Serve on the Board...
03/19/201516:01:00PowerShares Canada annonce des distributions en espèces pour...
03/19/201516:00:00PowerShares Canada announces cash distributions for TSX-listed...
03/17/201516:05:00Invesco Mortgage Capital Inc. Announces Quarterly Common and...
03/15/201506:57:31Dividend Challengers (And Near-Challengers): 51 Increases Expected...
03/13/201518:12:00Invesco PowerShares Announces Changes to ETF Family
03/12/201516:37:56New Canadian Exchange Adds Funds, Investors
03/11/201517:05:24Upstart Canadian Exchange Lines Up Two Large Investors--2nd Update
03/11/201516:14:09Upstart Canadian Exchange Lines Up Two Large Investors--Update
03/11/201508:03:20Current Report Filing (8-k)
03/10/201516:05:00Invesco Ltd. Announces February 28, 2015 Assets Under Management
03/09/201508:00:00Les prix mondiaux 2015 d'ETF Express annoncent le lauréat du...
03/09/201508:00:00ETF Express Global 2015 Awards names "Best Smart Beta ETF Provider"
03/05/201522:12:0911.2% Dividend Invesco Mortgage Capital's Interest Rate Neutral...
03/04/201516:53:40Statement of Changes in Beneficial Ownership (4)
03/03/201518:52:37Statement of Changes in Beneficial Ownership (4)

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