The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fido's Earnings Rise to $8.5B Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, February 13, 2024

Fido's Earnings Rise to $8.5B

Reported by Neil Anderson, Managing Editor

Abby Johnson and her team are celebrating "another year of strong financial and operating performance" at the Boston Behemoth.

Abigail "Abby" Pierrepont Johnson
FMR (dba Fidelity Investments)
Chair, President, CEO
Last week, the Fidelity Investments [profile] team released their 2023 annual report. The 15-page, publicly accessible report offers a host of metrics about the privately held mutual fund titan and its various business lines.

The report reveals that Fidelity earned $8.5 billion in operating income in 2023, a six-percent increase from 2022. Johnson, chairman and CEO of Fidelity, confirms that the asset manager also brought in a record $28.2 billion in 2023 revenue, a 12-percent year-over-year increase. Operating expenses, meanwhile, climbed 15 percent Y/Y to $19.7 billion. The firm now has more than 74,000 employees (associates).

Fidelity's AUM ("discretionary assets") grew 26 percent last year to $4.9 trillion on December 31, 2023, thanks in part to a 314-percent net inflows increase to $351 billion. AUA grew 23 percent to $12.6 trillion.

On the retail side, Fidelity's client base grew by three percent Y/Y to 38.7 million accounts. The firm's ETF business expanded to $51.7 billion in AUM across 64 ETFs, and their alts business grew to $11.6 billion in AUM across 44 products.

"While strong equity markets buoyed the company's results, our diversified combination of robust, revenue-generating businesses gives us the financial and operating stability to deliver resilient results during both bull and bear markets," Johnson writes in her "chairman's letter" at the beginning of the report:
Going forward, we remain hyper-focused on updating our technology to continue to provide robust, intuitive, and secure digital and in-person experiences that expand our relationships with existing customers and help us attract new customers. These efforts enable what has always been our highest priority: strengthening and securing the financial well-being of our individual customers and business-to-business clients.

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use