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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; 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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