WisdomTree Investments (WETF) Q2 Earnings Plummet
Zacks Investment Research | Jul 29, 2016 08:57AM ET
Have you been eager to see how WisdomTree Investments, Inc. (NASDAQ:WETF) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based exchange-traded fund (‘ETF’) and exchange-traded product (‘ETP’) sponsor and asset manager’s earnings release this morning:
Earnings Down
WisdomTree came out with earnings per share of 3 cents. Excluding $6.0 million charge related to the company's accelerated buyout of the remaining 25% stake in its European unit, adjusted earnings were 7 cents per share. Notably, the prior year quarter earnings were 18 cents. The Zacks Consensus Estimate for the reported quarter was 8 cents per share.
Results reflected significant decline in revenues that was due to reduced assets under management (AUM). Also the quarter recorded higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for WisdomTree Financial remained stable prior to the earnings release. The Zacks Consensus Estimate has remained unchanged at 8 cents over the last 7 days.
The company has a decent earnings surprise history.
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