Waddell & Reed Financial Q2 Profit Rises; Tops Estimates

(RTTNews) - Waddell & Reed Financial, Inc. (WDR), a provider of investment management services, Tuesday reported higher earnings for the second-quarter, on 21 percent revenue growth year-over-year. The company's net income rose to $83.0 million or $0.98 per share from $52.0 million or $0.61 per share during the second quarter of 2013. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.91 per share for the quarter. Analysts' estimates typically exclude special items. Total operating revenues climbed 21 percent to $400.6 million from $331.70 million last year, while analysts estimated revenue of $405.86 million.

Assets under management for the quarter rose 30 percent to $135.6 billion, compared with June 2013.