Financial services firm
reported a 23.1% rise in third-quarter earnings.
The Oaks, Pa.-based company said third-quarter earnings were $60.55 million, or 60 cents a share, compared with $49.20 million, or 48 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 57 cents a share in the most recent quarter.
Revenue in the quarter climbed 53.9% from a year earlier to $298.08 million. Analysts expected revenue of $289.6 million.
Revenue at the company's enterprises unit rose 25.5% to $42.12 million, at the investment advisors segment it rose 4.9% to $55.12 million, at the money managers segment it rose 12% to $29.80 million, at the private banking and trust it rose 14.6% to $73.23 million and investments in new business revenue rose 33.3% to $22.75 million. Revenues include $75.08 million from LSV Asset Management.
The company's shares were down 71 cents at $58.06.
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