Invesco takes 76% fourth-quarter profit drop

The Atlanta-based global investment manager recorded net income of $31.9 million, an 82% drop from the $175.9 million it reported in the year-earlier period — and down from $131.8 million in the third quarter of 2008.
JAN 30, 2009
By  Bloomberg
Invesco Ltd. reported a 76% fourth-quarter drop in net profits today. The Atlanta-based global investment manager recorded net income of $31.9 million, an 82% drop from the $175.9 million it reported in the year-earlier period — and down from $131.8 million in the third quarter of 2008. Invesco’s assets under management also took a fourth-quarter hit, dropping to $357.2 billion as of Dec. 31, from $500.1 billion in the year-earlier period. The company also released its annual earnings report: Net profits in 2008 totaled $481.7 million, and diluted earnings per share were $1.21. That’s compared with 2007, when income was $673.3 million, and diluted earnings per share were $1.64.

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound