Legg Mason Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Legg Mason Inc. (LM) revealed a profit for its first quarter that climbed from the same period last year.

The company's earnings came in at $49.4 million, or $0.54 per share. This compares with $45.4 million, or $0.51 per share, in last year's first quarter.

Excluding items, Legg Mason Inc. reported adjusted earnings of $65.4 million or $0.71 per share for the period.

Analysts had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.6% to $666.2 million from $705.4 million last year.

Legg Mason Inc. earnings at a glance:

-Earnings (Q1): $65.4 Mln. vs. $67.0 Mln. last year. -EPS (Q1): $0.71 vs. $0.75 last year. -Analysts Estimate: $0.64 -Revenue (Q1): $666.2 Mln vs. $705.4 Mln last year.