PITTSBURGH (AP) _ Federated Hermes, Inc. (FHI) on Thursday reported fourth-quarter net income of $56.5 million.

The Pittsburgh-based company said it had profit of 63 cents per share. Earnings, adjusted for asset impairment costs, were 90 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The one of the nation's largest managers of money market funds posted revenue of $373.9 million in the period.

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