UPDATE: Waddell & Reed Q4 Profit Surges 33%
Waddell & Reed Financial (NYSE: WDR) reported a 33% rise in its fourth-quarter earnings.
Waddell & Reed's quarterly profit surged to $53.3 million, or $0.62 per share, from $40 million, or $0.47 per share, in the year-ago period. Its per-share earnings from continuing operations came in at $0.61.
Its total operating revenue climbed 11% to $302.9 million. However, analysts expected earnings of $0.58 per share on revenue of $301 million.
Its operating margin widened to 27.5% from 22.8%.
Waddell & Reed shares closed at $38.12 yesterday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.