Legg Mason Exceeds Wall Street Estimates, Stock Rising After Hours (LM)

Legg Mason LM has released its quarterly earnings numbers after the closing bell on Monday. The asset manager reported net income of $48 million, or $0.30 per share. On an adjusted basis, income was $96 million or $0.60 per share. This compares with analysts' consensus EPS estimates of $0.31. Revenue was $674.2 million compared to Wall Street expectations of $651.60 million. Assets under management were down 2% year over year to $645.4 billion. In the after hours trading session, LM shares have gained 3.71% to $30.17.