Franklin Resources (BEN) Revenue — Quarter Ended Jun 30, 2023
Revenue for the quarter was higher compared to the immediately preceding quarter, driven by an uptick in investment management fees. However, revenue declined relative to the same quarter one year earlier, reflecting lower sales and distribution fees.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q3
Revenue for the quarter was higher compared to the immediately preceding quarter, driven by an uptick in investment management fees. However, revenue declined relative to the same quarter one year earlier, reflecting lower sales and distribution fees.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2B
Revenue reported for this quarter.
Quarter-over-quarter
+2.2%
Change from the immediately preceding quarter.
Year-over-year
-3.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$7.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $1.9B | -11.1% |
| Dec 31, 2022 | $2B | -11.6% |
| Mar 31, 2023 | $1.9B | -7.4% |
| Jun 30, 2023 | $2B | -3.1% |
Revenue performance
Total operating revenues increased sequentially, reversing the declines seen in prior quarters, but remained below the level achieved in the same quarter last year.
Quarterly comparison
Compared to the March quarter, revenue improved as investment management fees and other revenue streams strengthened. Relative to the year-ago period, the decrease was primarily attributable to lower sales and distribution fees and shareholder servicing fees.
What to watch
Monitor whether the sequential improvement in revenue can be sustained in the coming quarters, particularly given the year-over-year decline.