Federated Investors Inc. [see profile]
that its Q3 profits dropped 12 percent because of an increase in fee waivers and lower average equity assets.
The firm also reported a net income fall of $38.3 million, or 37 cents per share, in the third quarter, from $43.1 million, or 42 cents per share, a year earlier. Analysts polled by Thomson Reuters expected earnings of 38 cents per share.
and Bloomberg BusinessWeek
also covered the firm's earnings release.
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