Invesco posts mixed Q3 results, shares dip

NEW YORK - Asset manager Invesco Ltd. (NYSE:IVZ) reported third quarter earnings that beat analyst expectations on Tuesday, but shares fell 2.3% as revenue growth was offset by higher expenses.

Invesco posted adjusted earnings per share of $0.44, edging past the consensus estimate of $0.43. Revenue rose 5.1% YoY to $1.51 billion, significantly above analyst projections of $1.11 billion.

However, operating expenses increased 16.5% compared to the prior year quarter, driven primarily by a one-time $147.6 million acceleration of compensation expense related to changes in long-term award vesting criteria. This led to a decline in operating income and margins compared to Q3 2023.

The company reported $16.5 billion of net long-term inflows for the quarter, bringing total assets under management to a record $1.8 trillion as of September 30, up 4.7% from the previous quarter.

"We continued our positive momentum in the quarter," said Andrew Schlossberg, President and CEO. "Client engagements continue to broaden driven by our global network, diverse product suite, and improving investment results."

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Source: Investing.com