UPDATE: Waddell & Reed Q4 Profit Surges 33%

Waddell & Reed Financial

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.