Despite the painful direction of the markets last quarter, Franklin Resources
boosted its earnings and beat expectations. Yesterday the San Mateo, California-based parent of Franklin Templeton revealed
net income of $1.58 per diluted share, beating analysts expectations (of $1.48, the Wall Street Journal
's Aparajita Saha-Bubna and Tess Stynes report
) by almost seven percent and rising above the $1.55 Franklin earned in Q2 this year and the $1.28 it earned in Q3 last year.
Franklin's assets under management dipped three percent from $586.8 billion on March 31, 2010 to $570.5 billion on June 30, as the markets shook, yet it still brought in $21.9 billion in net flows for the quarter, mostly in global/international taxable fixed-income.
Neil Anderson, Managing Editor
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