Waddell & Reed Financial Q3 Profit Rises - Quick Facts

(RTTNews) - Waddell & Reed Financial, Inc. (WDR) reported third quarter net income of $68.4 million, or $0.80 per share, compared to $8.53 million or $0.10 per share last year. Net income from continuing operations was $52.1 million, or $0.61 per share in the third quarter of 2012.

Operating revenues were $347.1 million, an improvement of 18% compared to the same period last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.72 per share and revenues of $338.80 million for the quarter. Analysts' estimates typically exclude special items.

Assets under management were $114 billion at quarter-end, rising 9% during the quarter on a combination of strong market action and solid, sustained inflows across equity and fixed income assets. Compared to the end of September 2012, assets under management rose $19 billion, or 20%, including $4.3 billion from net new inflows - representing a 5% rate of organic growth - and $14.6 billion from positive market appreciation.