Legg Mason Q1 Profit Grows - Quick Facts

(RTTNews) - Asset management firm Legg Mason, Inc.'s (LM) first-quarter net income advanced to $72.2 million, or $0.61 per share, from $47.8 million, or $0.38 per share, in the first quarter of fiscal 2014.

On an adjusted basis, income for the recent quarter totaled $107.2 million, or $0.91 per share. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.56 for the quarter. Analysts' estimates typically exclude one-time items.

For the first quarter, operating revenues came in at $693.9 million, up 4% from $670.4 million, reported last year. Analysts estimated revenues of $704.36 million for the quarter.