Franklin Resources (BEN) Revenue — Quarter Ended Dec 31, 2023
Revenue rose year over year and sequentially, driven by growth in investment management fees. The company's operating income also improved compared to the same quarter last year.
Key takeaway
Quarter ended Dec 31, 2023 · FY2024 Q1
Revenue rose year over year and sequentially, driven by growth in investment management fees. The company's operating income also improved compared to the same quarter last year.
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
+0.3%
Change from the immediately preceding quarter.
Year-over-year
+1.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$7.9B
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 |
|---|---|---|
| Mar 31, 2023 | $1.9B | -7.4% |
| Jun 30, 2023 | $2B | -3.1% |
| Sep 30, 2023 | $2B | +2.4% |
| Dec 31, 2023 | $2B | +1.2% |
Revenue performance
Total operating revenues increased compared to the same quarter a year earlier, with investment management fees and sales and distribution fees contributing to the gain.
Quarterly comparison
Revenue in the current quarter was higher than both the immediately preceding quarter and the same quarter one year ago. This marks a continuation of sequential growth from the prior quarter.
What to watch
Despite higher revenue, cash flows from operations were negative for the quarter, a trend to monitor.