Franklin Resources reported profits for its fiscal fourth quarter ended Sept. 30 rose 22% to $367.4 million, or $1.60 a share, up from $300.5 million, or $1.28 a share, a year ago. That beat analysts’ expectations of earnings of $1.32 a share.

While revenue fell 6.3% to $1.2 billion, the firm reduced expenses by 6.1% to $854.2 million.

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