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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
06/23/201613:46:18Annual Report of Employee Stock Plans (11-k)
06/21/201613:20:00Invesco Study Finds U.S. Sovereign Investor Confidence High...
06/20/201616:40:00PowerShares Canada annonce des distributions en espèces pour...
06/20/201616:40:00PowerShares Canada announces cash distributions for Canadian-listed...
06/15/201616:30:00Invesco Announces Additional Risk Information Related to the...
06/15/201616:25:41Securities Registration: Employee Benefit Plan (s-8)
06/15/201616:15:00Invesco Mortgage Capital Inc. Announces Quarterly Common and...
06/14/201616:10:57Statement of Changes in Beneficial Ownership (4)
06/10/201608:32:10Current Report Filing (8-k)
06/09/201616:15:00Invesco Ltd. Announces May 31, 2016 Assets Under Management
06/08/201610:40:00Top U.K. Asset Manager Mulls New Fund
06/01/201613:01:00Invesco Closed-End Funds Declare Dividends
06/01/201608:30:00Lancement du Fonds en gestion commune de rendements mondiaux...
06/01/201608:30:00Invesco Global Targeted Returns Pool opened to accredited investors
05/26/201608:30:00Invesco Canada lance un fonds équilibré et un fonds de titres à...
05/26/201608:30:00Invesco Canada launches new global balanced and fixed income...
05/23/201616:36:47Statement of Changes in Beneficial Ownership (4)
05/20/201603:00:00WL Ross & Co. Sells 20 Percent of VTG AG, Completing a €358 M...
05/19/201614:00:00Invesco Canada améliore sa gamme de fonds communs de placement
05/19/201614:00:00Invesco Canada enhances mutual fund lineup

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