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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
08/19/201613:30:00Invesco annonce des distributions en espèces pour les FNB PowerShares...
08/19/201613:30:00Invesco announces cash distributions for Canadian-listed PowerShares...
08/15/201613:37:38Form 13f Holdings Report (13f-hr)
08/10/201609:39:26Current Report Filing (8-k)
08/09/201616:15:00Invesco Ltd. Announces July 31, 2016 Assets Under Management
08/02/201616:42:02Statement of Changes in Beneficial Ownership (4)
08/02/201616:37:03Statement of Changes in Beneficial Ownership (4)
08/02/201616:36:37Statement of Changes in Beneficial Ownership (4)
08/02/201616:30:57Statement of Changes in Beneficial Ownership (4)
08/02/201616:22:05Statement of Changes in Beneficial Ownership (4)
08/02/201616:21:13Statement of Changes in Beneficial Ownership (4)
08/02/201616:19:55Statement of Changes in Beneficial Ownership (4)
08/02/201616:18:39Statement of Changes in Beneficial Ownership (4)
08/01/201614:30:00Invesco Closed-End Funds Declare Dividends
07/29/201614:00:00Invesco Canada abaisse le niveau de risque de quatre fonds
07/29/201614:00:00Invesco Canada lowers risk rating on four funds
07/28/201615:37:08Quarterly Report (10-q)
07/28/201608:26:54Current Report Filing (8-k)
07/28/201606:55:00Invesco Reports Results for the Three Months Ended June 30, 2016
07/19/201613:00:00PowerShares Canada annonce des distributions en espèces pour...

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