Waddell & Reed Financial Investment Reveals 11% Decline In Q1 Profit

(RTTNews) - Waddell & Reed Financial Investment (WDR) reported earnings for first quarter that lost ground from last year.

The company said its bottom line came in at $33.06 million, or $0.39 per share. This was down from $36.97 million, or $0.45 per share, in last year's first quarter.

Analysts had expected the company to earn $0.42 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 11.5% to $286.56 million. This was down from $323.82 million last year.

Waddell & Reed Financial Investment earnings at a glance:

-Earnings (Q1): $33.06 Mln. vs. $36.97 Mln. last year. -Earnings Decline (Y-o-Y): -10.6% -EPS (Q1): $0.39 vs. $0.45 last year. -EPS Decline (Y-o-Y): -13.3% -Analysts Estimate: $0.42 -Revenue (Q1): $286.56 Mln vs. $323.82 Mln last year. -Revenue Change (Y-o-Y): -11.5%