Legg Mason misses by $0.04, reports revs in-line
- Reports Q1 (Jun) earnings of $0.75 per share, $0.04 worse thanthe Capital IQ Consensus of $0.79; revenues fell 5.8% year/year to $747.91 mln vs the $748.72 mln Capital IQ Consensus.
- Co says in a challenging environment for the industry, its equity outflows and breakeven alternative flows were partially offset by fixed income inflows. Importantly, co concluded the quarter with a record level of unfunded wins and committed but uncalled capital along with a robust pipeline of new opportunities across asset classes, strategies and affiliates.
- Assets Under Management were $744.6 billion at June 30, 2018 compared with $754.1 billion at March 31, 2018.
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