Federated Hermes: Q4 Earnings Snapshot

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PITTSBURGH (AP) — PITTSBURGH (AP) — Federated Hermes, Inc. (FHI) on Thursday reported fourth-quarter net income of $84.7 million.

On a per-share basis, the Pittsburgh-based company said it had net income of $1.04.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.

The one of the nation's largest managers of money market funds posted revenue of $424.7 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $419.7 million.

For the year, the company reported profit of $268.3 million, or $3.23 per share. Revenue was reported as $1.63 billion.

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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