Franklin Resources reported a mixed first quarter. While operating income and revenues increased year over year, net income decreased compared to the previous quarter. The company's AUM grew, driven by long-term net inflows and acquisitions. Strategic investments in alternatives, SMAs, wealth management, and ESG remained a focus.
Net income was $453.2 million, or $0.88 per diluted share.
Operating income was $557.7 million.
Total assets under management (AUM) were $1,578.1 billion.
Long-term net flows were $24.1 billion.
The document includes some forward-looking statements that reflect current views with respect to future events, financial performance and market conditions.
Visualization of income flow from segment revenue to net income