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Here's What Key Metrics Tell Us About Invesco (IVZ) Q3 Earnings
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For the quarter ended September 2023, Invesco (IVZ - Free Report) reported revenue of $1.1 billion, down 1.1% over the same period last year. EPS came in at $0.35, compared to $0.34 in the year-ago quarter.
The reported revenue represents a surprise of +0.19% over the Zacks Consensus Estimate of $1.1 billion. With the consensus EPS estimate being $0.36, the EPS surprise was -2.78%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Invesco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Assets Under Management - Fixed Income: $312.6 billion compared to the $325.94 billion average estimate based on three analysts.
Assets Under Management - Equity: $726.7 billion versus $742.28 billion estimated by three analysts on average.
Assets Under Management - Alternatives: $177 billion compared to the $187.3 billion average estimate based on three analysts.
Assets Under Management - Money market: $209.8 billion versus $219.53 billion estimated by three analysts on average.
Average AUM - Total: $1,528.7 billion versus the three-analyst average estimate of $1,538.81 billion.
Assets Under Management - Total: $1,487.3 billion versus the three-analyst average estimate of $1,540.62 billion.
Average AUM - Money Market: $214.3 billion versus $214.44 billion estimated by two analysts on average.
Average AUM - Alternatives: $150.6 billion versus the two-analyst average estimate of $193.4 billion.
Operating revenues- Other revenues: $45.20 million versus $55.39 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
Operating revenues- Service and distribution fees: $353.50 million compared to the $351.44 million average estimate based on four analysts. The reported number represents a change of +3.9% year over year.
Operating revenues- Performance fees: $2 million versus the four-analyst average estimate of $11.04 million. The reported number represents a year-over-year change of -33.3%.
Operating revenues- Investment management fees: $1.04 billion versus the three-analyst average estimate of $1.10 billion. The reported number represents a year-over-year change of -1.5%.
Shares of Invesco have returned -12.8% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Invesco (IVZ) Q3 Earnings
For the quarter ended September 2023, Invesco (IVZ - Free Report) reported revenue of $1.1 billion, down 1.1% over the same period last year. EPS came in at $0.35, compared to $0.34 in the year-ago quarter.
The reported revenue represents a surprise of +0.19% over the Zacks Consensus Estimate of $1.1 billion. With the consensus EPS estimate being $0.36, the EPS surprise was -2.78%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Invesco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Assets Under Management - Fixed Income: $312.6 billion compared to the $325.94 billion average estimate based on three analysts.
- Assets Under Management - Equity: $726.7 billion versus $742.28 billion estimated by three analysts on average.
- Assets Under Management - Alternatives: $177 billion compared to the $187.3 billion average estimate based on three analysts.
- Assets Under Management - Money market: $209.8 billion versus $219.53 billion estimated by three analysts on average.
- Average AUM - Total: $1,528.7 billion versus the three-analyst average estimate of $1,538.81 billion.
- Assets Under Management - Total: $1,487.3 billion versus the three-analyst average estimate of $1,540.62 billion.
- Average AUM - Money Market: $214.3 billion versus $214.44 billion estimated by two analysts on average.
- Average AUM - Alternatives: $150.6 billion versus the two-analyst average estimate of $193.4 billion.
- Operating revenues- Other revenues: $45.20 million versus $55.39 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a 0% change.
- Operating revenues- Service and distribution fees: $353.50 million compared to the $351.44 million average estimate based on four analysts. The reported number represents a change of +3.9% year over year.
- Operating revenues- Performance fees: $2 million versus the four-analyst average estimate of $11.04 million. The reported number represents a year-over-year change of -33.3%.
- Operating revenues- Investment management fees: $1.04 billion versus the three-analyst average estimate of $1.10 billion. The reported number represents a year-over-year change of -1.5%.
View all Key Company Metrics for Invesco here>>>Shares of Invesco have returned -12.8% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.