Federated Investors posts slight gain in profit
Federated Investors Inc., the money management firm based Downtown, reported quarterly net income increased 2 percent to $43 million from $42 million the year earlier. Per-share earnings equaled 41 cents in both periods. Revenue dipped 1 percent to $228 million from $230 million. An increase in investment income offset revenue declines resulting from waiving money-market fees for some clients. Federated's level of managed assets accounts increased 3.6 percent to $377 billion as of March 31 from year-ago levels.
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