Franklin Resources revenue rises 12% to $2.15 billion, but net income falls 36%
Franklin Resources reported second-quarter results for the quarter ended March 31, 2024, with operating revenues of $2,152.8 million, up 12% from a year earlier. Net income attributable to the company fell to $124.2 million, or $0.23 per diluted share, from $194.2 million, or $0.38, a year earlier, and operating income fell 49% year over year. Shareholders see higher revenue alongside lower GAAP profit per share, while assets under management reached $1,644.7 billion, partly from the Putnam Investments acquisition.
Key points
- Operating revenues were $2,152.8 million, up 12% from a year earlier and 8% from the prior quarter.
- Net income attributable to Franklin Resources was $124.2 million, or $0.23 per diluted share, versus $194.2 million, or $0.38, a year earlier.
- Adjusted diluted earnings per share, a non-GAAP measure, was $0.56, compared with $0.61 a year earlier and $0.65 in the prior quarter.
- Total assets under management were $1,644.7 billion at March 31, 2024, up 13% in the quarter, including $148.3 billion from the Putnam acquisition, and long-term net inflows were $6.9 billion.
The filing
Written by AI on Nov 8, 2026, 1:11 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 29, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.