UPDATE: Eaton Vance FQ1 Profit Surges 26%

Eaton Vance Corp (NYSE: EV) posted a 26% rise in its fiscal first-quarter earnings.

Eaton Vance's quarterly profit surged to $47.3 million, or $0.40 per share, from a year-ago profit of $37.5 million, or $0.30 per share. Its revenue fell 4.2% to $295.6 million. Its adjusted profit came in at $0.47 per share. However, analysts were expecting earnings of $0.44 per share on revenue of $298 million.

Eaton Vance shares closed at $28.17 yesterday.