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Rating:AMVESCAP Earnings Disappoint the Street Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 27, 2004

AMVESCAP Earnings Disappoint the Street

by: Theresa Sim

The UK-based parent of AIM and INVESCO funds missed analyst earnings expectations by $0.01. The average First Call/Thomson analyst estimate of earnings per share was $0.22 for the first quarter. [View the earnings press release].

Net income was $132.3 million for the first quarter, up 73 percent from $76.6 million for the same period last year.

Assets under management increased by 3 percent in the first quarter, from $370.6 billion to $381.4 billion. The $10.8 billion increase was due to $7.3 billion in asset appreciation, $6.1 billion in acquisitions, $0.9 billion in foreign currency, $1.5 billion in fund outflows and $2.0 billion loss in money market funds.

Assets managed by AIM remained unchanged in the first quarter, while assets managed by INVESCO increased by 3 percent from $183 billion to $188.5 billion.

The fund firm had a conference call discussing earnings on Tuesday morning. [View conf call information]. 

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