Have you been eager to see how WisdomTree Investments, Inc. (WETF) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based exchange-traded product (‘ETP’) sponsor and asset manager’s earnings release this morning:
Earnings In line
WisdomTree came out with adjusted earnings per share of 10 cents, in line with the Zacks Consensus Estimate of 10 cents. Results reflected increased revenues, offset by higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for WisdomTree remained stable prior to the earnings release. The Zacks Consensus Estimate has remained unchanged at 10 cents over the last 30 days.
Revenue Came As Expected
WisdomTree posted revenues of $60.1 million, which came at par with the Zacks Consensus Estimate. Moreover, it compared favorably with the year-ago number of $42.9 million.
Key Stats to Note:
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Expenses: $39.1 million, up 48% from the prior-year quarter.
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Pre-tax income: $21.0 million in the first quarter, up 27.6% from the prior-year quarter.
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Gross Margin in US listed ETFs: 83.2%, up from 78.6% in the prior-year quarter.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for WisdomTree. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this WETF earnings report!
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