Waddell & Reed Financial Investment Q2 Earnings Decline 31%

(RTTNews) - Waddell & Reed Financial Investment (WDR) released a profit for second quarter that fell from last year.

The company said its profit declined to $23.31 million, or $0.28 per share. This was down from $33.69 million, or $0.41 per share, in last year's second quarter.

Analysts had expected the company to earn $0.38 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.2% to $286.66 million. This was down from $319.21 million last year.

Waddell & Reed Financial Investment earnings at a glance:

-Earnings (Q2): $23.31 Mln. vs. $33.69 Mln. last year. -Earnings Decline (Y-o-Y): -30.8% -EPS (Q2): $0.28 vs. $0.41 last year. -EPS Decline (Y-o-Y): -31.7% -Analysts Estimate: $0.38 -Revenue (Q2): $286.66 Mln vs. $319.21 Mln last year. -Revenue Change (Y-o-Y): -10.2%