Franklin Resources - Asset Manager benefits from increasing fee income!
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Business Driver: Franklin Resources (BEN) belongs to the established international asset managers with its core brand Templeton and has recently expanded its offerings through ETFs and other retirement products. On January 30, it surprised with a very strong Q1 result, with adjusted earnings per share rising from 59 to 70 cents, exceeding consensus expectations of 55 cents. Total revenues also surpassed analyst estimates of $1.71 billion, with a 3.33% increase to $2.327 billion.
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