Legg Mason Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Legg Mason Inc. (LM) revealed a profit for second quarter that declined from last year.

The company's profit came in at $67.1 million, or $0.74 per share. This compares with $72.8 million, or $0.82 per share, in last year's second quarter.

Excluding items, Legg Mason Inc. reported adjusted earnings of $85.6 million or $0.95 per share for the period.

Analysts had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.0% to $743.3 million from $758.4 million last year.

Legg Mason Inc. earnings at a glance:

-Earnings (Q2): $85.6 Mln. vs. $78.0 Mln. last year. -EPS (Q2): $0.95 vs. $0.88 last year. -Analysts Estimate: $0.86 -Revenue (Q2): $743.3 Mln vs. $758.4 Mln last year.