PITTSBURGH (AP) — PITTSBURGH (AP) — Federated Hermes, Inc. (FHI) on Thursday reported third-quarter profit of $104.1 million.
On a per-share basis, the Pittsburgh-based company said it had net income of $1.34.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The one of the nation’s largest managers of money market funds posted revenue of $469.4 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $442.2 million.
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