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an InvestmentWires' Publication
Tuesday, December 03, 2019|
24 Years of Positive Net Flows
Net income and AUM are on the rise at a Boston-based, publicly mutual fund firm.
Analysts from Credit Suisse pointed out that Eaton Vance's "Headline earnings [are] better than our expectations but core results [are] slightly softer."
According to their earnings press release, revenues for just Q4 2019 were at $433.7 million, a one percent increase from $430.8 million in Q3 2019. For the fiscal year ending October 31, 2019, revenues were at $1.68 billion, a 0.5 percent decrease from the $1.69 billion in the fiscal year ending October 31, 2018.
Eaton Vance's net income for Q4 2019 reached at $118 million, a 9.25 percent increase from $108 million in Q3 2019. For the fiscal year ending October 31, 2019, net income totaled $432 million, an 8.8 percent increase from $397 million for fiscal year ending October 31, 2018.
Overall, Eaton Vance beats Q4 non-GAAP EPS expectations of $0.95 by $0.07, beats Q4 GAAP EPS expectations of $0.96 by $0.08, but misses revenue expectations $433.7 million (+0.6% year-on-year) by $4.68 million.
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