Waddell & Reed Financial Q1 Profit Rises, Results Beat Estimates - Quick Facts

(RTTNews) - Waddell & Reed Financial, Inc. (WDR), a provider of investment management services, Tuesday reported first-quarter net income of $74.86 million or $0.88 per share, up from $53.86 million or $0.63 per share in the previous year.

On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.85 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues climbed 23% to $390.42 million from $316.56 million a year ago. Analysts estimated revenues of $388.87 million for the quarter.

Assets under management rose 4% during the quarter and ended March at $131.4 billion.