A.G. Edwards Inc. announced fiscal second-quarter earnings Thursday that were up 40% but missed analyst expectations by a penny.
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The St. Louis brokerage company said it earned $66 million, or 86 cents a share, in the quarter that ended Aug. 31, up from $47 million, or 61 cents, the year earlier. Revenue was up 6%, to $713 million.
The average of analysts' profit expectations for the company was 87 cents a share, according to Thomson First Call. A.G. Edwards stock declined 4.36%, to $53.28 a share, in midday trading.
Edwards' assets under management grew 8.9%, to $354 billion, from the year before.
