Waddell & Reed Financial Investment Q2 Income Drops 28%

(RTTNews) - Waddell & Reed Financial Investment (WDR) released a profit for second quarter that fell compared to the same period last year.

The company said its earnings fell to $48.86 million, or $0.59 per share. This was down from $67.45 million, or $0.80 per share, in last year's second quarter.

Analysts had expected the company to earn $0.44 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 19.0% to $319.21 million. This was down from $393.99 million last year.

Waddell & Reed Financial Investment earnings at a glance:

-Earnings (Q2): $48.86 Mln. vs. $67.45 Mln. last year. -Earnings Decline (Y-o-Y): -27.6% -EPS (Q2): $0.59 vs. $0.80 last year. -EPS Decline (Y-o-Y): -26.2% -Analysts Estimate: $0.44 -Revenue (Q2): $319.21 Mln vs. $393.99 Mln last year. -Revenue Change (Y-o-Y): -19.0%