Federated Hermes: Q3 Earnings Snapshot

PITTSBURGH (AP) — PITTSBURGH (AP) — Federated Hermes, Inc. (FHI) on Thursday reported third-quarter profit of $75 million.

On a per-share basis, the Pittsburgh-based company said it had net income of 86 cents.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The one of the nation's largest managers of money market funds posted revenue of $402.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $400.9 million.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FHI at https://www.zacks.com/ap/FHI