Federated Hermes: Q1 Earnings Snapshot
PITTSBURGH (AP) — PITTSBURGH (AP) — Federated Hermes, Inc. (FHI) on Thursday reported first-quarter net income of $101.1 million.
The Pittsburgh-based company said it had profit of $1.25 per share. Earnings, adjusted for pretax gains, were $1.10 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The one of the nation's largest managers of money market funds posted revenue of $423.5 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $419.9 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FHI at https://www.zacks.com/ap/FHI
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