Waddell & Reed earnings jump 60 percent

Waddell & Reed Financial Inc. reported a 60 percent jump in second quarter earnings thanks in part to a rise in assets in its mutual funds and other accounts.

The Overland Park-based company earned $83 million, or 98 cents a share, compared with $52 million, or 61 cents a share, a year ago.

Revenues climbed to $400.6 million in the quarter, compared with $331.7 million a year ago. Assets the company manages for clients reached $135.6 billion at the end of June, up 30 percent from a year earlier.

This story was originally published July 29, 2014 at 8:33 AM with the headline "Waddell & Reed earnings jump 60 percent."