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Invesco 3Q Profit Up 47%, Helped By Morgan Stanley Deal

DOW JONES NEWSWIRES Invesco Ltd.'s (IVZ) third-quarter earnings rose 47%, beating analysts' views, as the money manager's results were aided by its recent acquisition of Morgan Stanley's (MS) retail asset-management business. "Driven by consistent, long-term investment performance, we continue to see strong momentum in our business during the first full quarter after our combination," said President and Chief Executive Martin L. Flanagan. Invesco's deal with Morgan Stanley included the Van Kampen fund unit, though its bottom line has been dinged of late because of merger-related charges. Standard & Poor's Ratings Services in July upgraded Invesco, citing its improved performance--including asset diversification, distribution, investment performance and profitability. Invesco reported a third-quarter profit of $154.7 million, or 32 cents a share, up from $105.2 million, or 24 cents a share, a year earlier. Excluding items such as merger-related charges, earnings rose to 39 cents from 27 cents as revenue jumped 35% to $953.1 million. Analysts polled by Thomson Reuters had most recently forecast earnings of 35 cents a share on $966 million in revenue. Operating margin fell to 19.2% from 21.5%. Assets under management rose to $604.5 billion as of Sept. 30, from $446.9 billion a year earlier and $557.7 billion in the prior quarter. Several firms have seen assets under management rise of late as stocks have rallied the past several months. Long-term net inflows were $4.9 billion, down from $13.9 billion in the second quarter. Institutional money-market net outflows were $2.4 billion, up from $900 million. Shares closed at $22.32 Friday and were inactive premarket. The stock has fallen 5% 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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