Waddell & Reed Financial Investment Announces 64% Retreat In Q4 Profit

(RTTNews) - Waddell & Reed Financial Investment (WDR) revealed a profit for fourth quarter that retreated compared to the same period last year.

The company said its earnings totaled $22.42 million, or $0.27 per share. This was down from $62.92 million, or $0.76 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.48 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 18.9% to $292.91 million. This was down from $361.07 million last year.

Waddell & Reed Financial Investment earnings at a glance:

-Earnings (Q4): $22.42 Mln. vs. $62.92 Mln. last year. -Earnings Decline (Y-o-Y): -64.4% -EPS (Q4): $0.27 vs. $0.76 last year. -EPS Decline (Y-o-Y): -64.5% -Analysts Estimate: $0.48 -Revenue (Q4): $292.91 Mln vs. $361.07 Mln last year. -Revenue Change (Y-o-Y): -18.9%