Waddell & Reed Financial Investment Earnings Decline 45% In Q1

(RTTNews) - Waddell & Reed Financial Investment (WDR) announced a profit for first quarter that dropped from last year.

The company said its profit totaled $36.97 million, or $0.45 per share. This was down from $67.11 million, or $0.80 per share, in last year's first quarter.

Analysts had expected the company to earn $0.56 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 16.0% to $323.82 million. This was down from $385.46 million last year.

Waddell & Reed Financial Investment earnings at a glance:

-Earnings (Q1): $36.97 Mln. vs. $67.11 Mln. last year. -Earnings Decline (Y-o-Y): -44.9% -EPS (Q1): $0.45 vs. $0.80 last year. -EPS Decline (Y-o-Y): -43.8% -Analysts Estimate: $0.56 -Revenue (Q1): $323.82 Mln vs. $385.46 Mln last year. -Revenue Change (Y-o-Y): -16.0%