Franklin Resources' Profit Jumps

Franklin Resources(BEN Quote) reported a rise in quarterly profit Thursday, beating Wall Street estimates.

The manager of Franklin Templeton Investments posted fiscal fourth-quarter net income of $152.1 million, or 61 cents a share, more than double the $68.5 million, or 26 cents a share, it posted in the same period the prior year. Wall Street had forecast 56 cents a share.

Revenue rose to $722 million from $608.3 million a year earlier, with the help of higher fees from investment management, underwriting and shareholder servicing. Analysts had expected revenue of $710.4 million. ...