Invesco Q3 Earnings Fall, Misses Estimates

(RTTNews) - Invesco Ltd. (IVZ), an investment management firm, on Tuesday reported lower earnings and revenue for the third quarter. The results also missed the analyst's estimate.

Quarterly net income decreased 25.9 percent to $131.4 million from $177.4 million for the same period last year.

Earnings per share fell 25.6 percent to $0.29 per share from $0.39 per share last year.

Excluding items, earnings however, increased 2.2 percent to $159.2 million from $155.8 million of the previous year. Adjusted earnings per share stood at $0.35 compared to $0.34 of the prior year.

On average, 13 analysts polled by Thomson Reuters expect earnings of $0.36 per share for the year. Analysts' estimates typically exclude special items.

Adjusted net revenues decreased 1.1 percent to $1.098 billion from $1.110 billion of last year.

The Street estimate for revenue is $1.1 billion.

Additionally, the company declared a cash dividend of $0.20 per share payable on December 4 to shareholders of record on November 10.

On Monday, Invesco shares closed at $12.52, down 1.42% on the New York Stock Exchange.