Have you been eager to see how Invesco Ltd. (IVZ Quick QuoteIVZ - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this GA-based asset manager’s earnings release this morning:

An Earnings Beat

Invesco came out with adjusted earnings of 56 cents per share, which beat the Zacks Consensus Estimate by a penny.
 
Lower expense level was mainly responsible for the earnings beat.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for Invesco depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 5.2% lower over the last 30 days.

Further, Invesco doesn’t have a decent earnings surprise history. Before posting the earnings beat in Q2, the company delivered negative surprises in three of the prior four quarters, as evident from the chart below:

INVESCO LTD Price and EPS Surprise

INVESCO LTD Price and EPS Surprise | INVESCO LTD Quote

Revenue Came In Lower Than Expected   

Invesco posted GAAP revenues of $1.19 billion, which marginally missed the Zacks Consensus Estimate of $1.20 billion. Also, it compared unfavorably with the year-ago number of $1.32 billion.

Key Statistics:

• Adjusted operating margin was 38.6%
• Assets under management (AUM) of $779.6 billion
• Long-term net inflows were $4.5 billion

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #5 (Strong Sell) for Invesco. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

Check back later for our full write up on this Invesco earnings report!

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