Eaton Vance [profile] announced a net outflow of investor cash for the second quarter in a row. Yet the Boston-based mutual fund firm's profit climbed 26 percent, and its earnings beat estimates [earnings call transcript].

Reuters reported on Eaton Vance's earnings.

Net outflows of the company's long-term funds and separate accounts came in at $1.1 billion in the quarter, compared to $1.8 billion in net inflows a year ago.

For the first quarter, their net income was $47.3 million or $0.44 per share, which is higher than last year's $37.5 million, or $0.30 per share. Adjusted earnings reached $0.47 per share, compared to the $0.44 expected by analysts. 

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE