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Shares of Eaton Vance (EV) - Get Free Report on Tuesday rose as much as 7% after the Boston asset manager reported fiscal third-quarter net income per share climbed a stronger-than-expected 8.4%.

For the quarter ended July 31, Eaton Vance earned 90 cents a share, compared with 82 cents in the year-earlier quarter. Shares outstanding fell 7.6% to 113.5 million. Revenue edged up 0.6% to $431.2 million.

A survey of analysts by FactSet had estimated the company would earn 86 cents a share on revenue of $431.8 million.

Average assets under management at the end of the third quarter were $471 billion, up 5.6% from the year-earlier quarter.

Eaton Vance shares were trading up 4.4% at $41.12. 

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