Waddell & Reed Financial Inc WDR reported a 14% drop in its fourth-quarter profit.
Waddell & Reed's quarterly net income fell to $40.0 million, or $0.47 per share, from $46.4 million, or $0.54 per share, in the year-ago period. However, analysts were expecting earnings of $0.48 per share.
Waddell & Reed's net inflows for the period came in at $42 million.
Waddell & Reed shares closed at $29.58 yesterday.
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