Waddell & Reed Financial reports a profit increase
Waddell & Reed Financial Inc. on Tuesday reported an increase in its fourth-quarter profit compared with year-ago results.
The mutual fund company headquartered in Overland Park earned $80.1 million in the final three months of 2014, up from $79 million a year earlier. The company earned 97 cents a share in the fourth quarter, which beat an analyst projection of 89 cents a share.
Revenue rose 6 percent during the quarter to $397.2 million.
At the end of 2014, Waddell & Reed had $123.7 billion in assets under management, down 2 percent from the end of 2013.
| The Star
This story was originally published February 3, 2015 at 12:45 PM with the headline "Waddell & Reed Financial reports a profit increase."