UPDATE: Waddell & Reed Posts Higher Q3 Profit

Waddell & Reed Financial

reported a rise in its third-quarter profit. Its quarterly net income from continuing operations climbed to $52.1 million, or $0.61 per share, versus $39.4 million, or $0.46 per share, in the year-earlier period. Waddell & Reed's total operating revenue gained 5% to $293.4 million. Waddell & Reed shares closed at $32.62 on Friday.