EV’s Earnings

Eaton Vance’s (EV) quarterly earnings jumped 87%.

For the three months ended Jan 31, the company posted profit of $46.2 million, or 37 cents per share, compared with profit of $24.7 million, or 21 cents per share, in the year-ago quarter.
Results for the 2010 period were reduced by 2 cents per share by adjustments required to comply with new accounting standards.
Revenue rose 30 percent to $272 million, from $209.5 million in the 2009 first quarter. That included a 31 percent jump in investment advisory fees to $210.4 million, a 19 percent gain in distribution and underwriter fees to $25 million and a 23 percent increase in service fees to $34 million.
Analysts polled by Thomson Reuters, on average, expected profit of 36 cents per share, on revenue of $212.2 million.

Thirty-five years ago, you could have picked up a share of EV for about 1.7 cents. Since then, the stock is up more than 1700 fold.

Posted by on February 24th, 2010 at 3:15 pm

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