Federated Hermes Reports Strong Q4 Earnings, Revenue
Federated Hermes, Inc. (FHI) announced its fourth-quarter financial results, exceeding analysts' expectations.
Key Financial Metrics:
* Net income: $84.7 million
* Earnings per share: $1.04
* Revenue: $424.7 million
Analyst Expectations:
* Earnings per share: 96 cents (Zacks Investment Research)
* Revenue: $419.7 million (Zacks Investment Research)
Annual Performance:
* Profit: $268.3 million
* Earnings per share: $3.23
* Revenue: $1.63 billion
Federated Hermes, a leading money market fund manager, attributed its strong performance to continued asset growth and efficient expense management. The company remains optimistic about future growth prospects in the asset management industry.