Voya Financial IncRevenues beat estimates by 15.4%, the largest beat in the group.
Custody bank stocks delivered a strong first quarter, with the 16 companies tracked reporting aggregate revenues that beat analysts' consensus estimates by 2.5%. Voya Financial stood out with revenues of $1.93 billion, up 2.3% year on year and exceeding expectations by 15.4%, the largest beat in the group. Franklin Resources reported revenues of $2.29 billion, an 8.7% increase that topped estimates by 11.8%, while Hamilton Lane posted the slowest revenue growth with a 2.2% decline to $193.6 million, missing forecasts by 3.4%. T. Rowe Price saw revenues rise 4.8% to $1.86 billion but missed estimates by 1%, and Ameriprise Financial grew revenues 10.8% to $4.77 billion, beating by 2.1%. Share prices across the group have been resilient, rising 8.7% on average since the latest earnings results.
Voya Financial IncRevenues beat estimates by 15.4%, the largest beat in the group.
Ameriprise Financial IncRevenues beat estimates by 2.1%, indicating strong financial performance.
Hamilton Lane IncRevenues declined 2.2% and missed forecasts by 3.4%, underperforming.
T. Rowe Price Group IncRevenues missed estimates by 1%, despite a 4.8% increase.
ING Group NV ADR
Franklin Resources IncRevenues beat estimates by 11.8%, a significant earnings surprise.