DST Systems Q2 Profit Misses Estimates, Revenues Top

(RTTNews) - DST Systems, Inc (DST) reported a sharp decline in second-quarter profit, despite a growth in revenues. Adjusted earnings missed analysts' expectations, while revenues came above view.

Quarterly net income fell to $78.5 million or $1.77 per share from $144.9 million or $3.17 per share in the prior year.

Excluding items, adjusted earnings for the recent quarter were $1.04 per share, while the company posted $0.77 per share a year earlier.

On average, four analysts polled by Thomson Reuters expected earnings per share of $1.05 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the quarter grew to $657.1 million from $632.8 million a year earlier. Analysts estimated revenues of $475.63 million.