Despite falling net inflows, Waddell & Reed managed to increase its earnings and beat earnings estimates for last quarter.

Today, the Overland Park, Kansas-based parent of Ivy Funds [see profile] reported third quarter 2010 earnings per diluted share of $0.47 (up from $0.40 in Q2 2010 and $0.39 in Q3 2009, and beating analysts' estimates of $0.43, according to Reuters).

Waddell's net inflows fell to $658 million for Q3 2010, down from $731 million for Q2 2010 and $2.4 billion for Q3 2009. 

Edited by: Neil Anderson, Managing Editor


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