How did Franklin Resources' revenue and expenses trend in Q1 2025 compared to previous quarters?

**Franklin Resources' revenue and expenses in Q1 2025 showed notable trends compared to previous quarters**: 1. **Revenue Trend**: - **Q1 2025**: Franklin Resources reported a revenue of $2,251.6 million, surpassing the estimated $1,738.55 million, marking a 13% increase year-over-year. - **Comparison with Previous Quarters**: Revenue increased from $1.99 billion in Q1 2024 to $2.15 billion in Q2 2024, and further increased to $2.21 billion in Q3 2024 before reaching $2.25 billion in Q1 2025. This indicates a consistent upward trend in revenue over the past four quarters. 2. **Expense Trend**: - **Q1 2025**: The company reported an operating income of $219 million, reflecting a significant improvement from an operating loss of $150.7 million in the previous quarter. - **Net Income**: Franklin Resources showed a net income of $163.6 million in Q1 2025, a significant turnaround from a net loss of $84.7 million in the previous quarter. - **Adjusted Operating Income**: The adjusted operating income was $412.8 million, indicating a decrease of 9% from the prior quarter. - **EPS**: The EPS reported was $0.29, which missed the estimated $0.43, but was an improvement from $0.50 in the same quarter last year. |code|Ticker|Name|Date|Total Revenue|Net Income|market_code| |---|---|---|---|---|---|---| |TRT|TRT.A|Trio-Tech|2024 Q3|1.0398E7|163000|170| |TRT|TRT.A|Trio-Tech|2024 Q4|9746000|286000|170| |TRT|TRT.A|Trio-Tech|2025 Q1|9799000|-223000|170| |TRT|TRT.A|Trio-Tech|2025 Q2|8619000|529000|170| 3. **Asset Management Trends**: - **Assets Under Management (AUM)**: The AUM decreased from $1.58 trillion in the prior quarter to $1.5757 trillion, representing an 8% increase year-over-year, despite a 6% decline from the previous quarter. - **Net Flows**: The company experienced long-term net outflows of $50 billion, including $20 billion of reinvested distributions. 4. **Dividend and Share Repurchases**: Franklin Resources maintained a dividend payout ratio of 75.00% and announced a quarterly dividend payment, reflecting a commitment to returning value to shareholders. In summary, Franklin Resources demonstrated a strong revenue growth trajectory in Q1 2025, with significant improvements in operating income and net income. However, there was a slight decrease in adjusted operating income and EPS when compared to the previous quarter. The AUM showed resilience despite some fluctuations, and the company continued to return value to shareholders through dividends and share repurchases.