Legg Mason reports EPS in-line, beats on revs :
- Reports Q1 (Jun) earnings of $0.52 per share, in-line with the two analyst estimate of $0.52; revenues rose 13.4% year/year to $793.8 mln vs the $766.6 mln Capital IQ Consensus.
- Operating margin was 13.5% compared to 15.2% in the prior quarter. Operating margin, as adjusted, was 22.5%, as compared to 20.6% with the increase primarily due to increased operating revenues.
- Assets Under Management ("AUM") were $741.2 billion at June 30, 2017 compared with $728.4 billion at March 31, 2017, resulting from the reclass of $16.0 billion of separately managed account assets previously classified as Assets Under Advisement, $8.4 billion in positive market performance and other, $0.7 billion in positive foreign exchange and long-term net inflows of $0.5 billion, partially offset by liquidity outflows of $11.5 billion.
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