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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; [email protected]

Stock News for Invesco Ltd (IVZ)
DateTimeHeadline
02/23/201712:14:43Annual Report (10-k)
02/23/201708:08:00Invesco Launches Four Simple, Convenient Single-Ticket Multi-Asset...
02/16/201716:15:00Invesco Ltd. Announces 2017 Annual General Meeting of Shareholders
02/16/201708:30:00Jemstep Partners with SSG to offer Advisor Pro Platform to over...
02/15/201716:27:13Current Report Filing (8-k)
02/15/201716:10:00Invesco annonce des distributions en espèces pour les FNB PowerShares...
02/15/201716:10:00Invesco announces cash distributions for Canadian-listed PowerShares...
02/14/201718:25:47Annual Statement of Changes in Beneficial Ownership (5)
02/14/201714:49:51Form 13f Holdings Report (13f-hr)
02/13/201716:39:28Annual Statement of Changes in Beneficial Ownership (5)
02/10/201716:22:59Amended Statement of Ownership (sc 13g/a)
02/10/201708:43:20Current Report Filing (8-k)
02/09/201716:15:00Invesco Ltd. Announces January 31, 2017 Assets Under Management
02/01/201712:13:00Invesco Closed-End Funds Declare Dividends
01/31/201707:30:00Invesco lance de nouvelles séries pour deux FNB PowerShares...
01/31/201707:30:00Invesco launches new series for two PowerShares Canada ETFs
01/30/201717:15:31Statement of Changes in Beneficial Ownership (4)
01/30/201717:11:38Statement of Changes in Beneficial Ownership (4)
01/30/201717:09:27Statement of Changes in Beneficial Ownership (4)
01/30/201717:04:14Statement of Changes in Beneficial Ownership (4)

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