- Invesco ( NYSE: IVZ ) stock fell 3% out of the gates Tuesday after its Q3 earnings fell short of the average Wall Street estimate as its net long-term outflows ramped up against a backdrop of depreciating equity and bond markets.
- Q3 adjusted EPS of $0.34 missed the $0.41 consensus and slid from $0.39 in Q2 and $0.77 a year earlier.
- Revenue of $1.1B matched the average analyst estimate, but decreased from $1.2B in Q2 and $1.3B in Q3 2021.
- Operating margin came in at $24.2% vs. 22.5% in Q2 and 26.5% in the year-ago quarter.
- Net long-term outflows were $7.7B compared with $6.8B in Q2 and inflows of $13.3B in Q3 of last year.
- Assets under management ended Q3 at $1,323.3B, down from $1,390.4B in Q2 and $1,528.6B a year ago.
- Earlier, Invesco Non-GAAP EPS of $0.34 misses by $0.07, revenue of $1.11B in-line .
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Invesco Q3 earnings dented by bigger net long-term outflows amid market volatility