PITTSBURGH (AP) — PITTSBURGH (AP) — Federated Hermes, Inc. (FHI) on Thursday reported first-quarter profit of $96.4 million.
The Pittsburgh-based company said it had net income of $1.27 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The one of the nation’s largest managers of money market funds posted revenue of $479 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $478.2 million.
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