Federated Earns $57 Million in Third Quarter, Down 1%

Federated Investors reported third quarter earnings of $57 million, or 56 cents a share, down 1% from $56.2 million, or 52 cents a share, a year earlier. Revenue declined 4% to $293.6 million, as the firm absorbed fees on some of its mutual fund to maintain $1 net asset values.

Assets under management increased 14% from a year earlier to $392.3 billion. “Federated’s fluctuating fund sales have increased more than 50% from the same time last year,” said J. Christopher Donahue, president and CEO. “Investors continue to recognize Federated’s reputation for managing a broad line of stock, bond and alternative strategies that can help them meet their investing needs.”