SAN MATEO, Calif. (AP) _ Franklin Resources Inc. (BEN) on Tuesday reported fiscal third-quarter earnings of $438.4 million.

On a per-share basis, the San Mateo, California-based company said it had profit of 86 cents. Earnings, adjusted for one-time gains and costs, came to 96 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The investment manager posted revenue of $2.17 billion in the period.

Franklin Resources shares have increased 19% since the beginning of the year, while the S&P's 500 index has risen 17%. The stock has risen 41% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BEN at https://www.zacks.com/ap/BEN

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News