Franklin Resources (BEN) Revenue — Quarter Ended Mar 31, 2024
Total operating revenues increased compared to both the prior quarter and the same quarter of the prior year. The growth was driven by gains across investment management fees, sales and distribution fees, and other revenue streams.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q2
Total operating revenues increased compared to both the prior quarter and the same quarter of the prior year. The growth was driven by gains across investment management fees, sales and distribution fees, and other revenue streams.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.2B
Revenue reported for this quarter.
Quarter-over-quarter
+8.1%
Change from the immediately preceding quarter.
Year-over-year
+11.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.1B
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 |
|---|---|---|
| Jun 30, 2023 | $2B | -3.1% |
| Sep 30, 2023 | $2B | +2.4% |
| Dec 31, 2023 | $2B | +1.2% |
| Mar 31, 2024 | $2.2B | +11.7% |
Revenue performance
Revenues rose sequentially and also showed a substantial year-over-year increase. All major operating revenue categories contributed to the improvement.
Quarterly comparison
The reported revenue was higher than the immediately preceding quarter, continuing the upward trend observed over recent quarters. It also exceeded the level from one year earlier, reflecting sustained expansion.
What to watch
Operating income declined sharply despite the revenue growth, suggesting that expenses grew faster than revenues during the quarter.