Markets

Eaton Vance Slips To Loss In Q3

(RTTNews) - Eaton Vance Corp. (EV) reported that its third-quarter net loss attributable to shareholders was $1.59 million or $0.01 per share compared to net income of $102.22 million or $0.90 per share in the prior year. The latest-quarter results reflected a $0.90 per share charge against earnings in connection with a $100.5 million impairment loss recognized during the quarter on the company's investment in 49 percent-owned affiliate Hexavest.

Adjusted earnings per share were $0.82, a decrease of 7 percent from $0.88 last year.

Quarterly revenue decreased 2 percent to $420.8 million from $431.2 million in the third quarter of fiscal 2019.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.78 per share and revenues of $406.23 million. Analysts' estimates typically exclude special items.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More