Invesco Q2 Revenue Rises 20.3% as Custody Bank Stocks Beat Estimates

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3▲4 ▼1Impact / 5
Summary · why it matters

Invesco reported second-quarter revenues of $1.33 billion, up 20.3% year on year and in line with analysts' expectations, as the 16 custody bank stocks tracked by the roundup collectively beat consensus revenue estimates by 3.2%. Invesco beat analysts' EBITDA estimates while assets under management came in line, and its stock is up 1% since reporting, trading at $30.43. Hamilton Lane posted the group's biggest estimate beat, with revenues of $275.3 million, up 56.5% year on year and 21% above expectations, though its shares are down 6.6% at $88.65. StepStone Group delivered the weakest performance against estimates, with revenues of $300.6 million, up 26.6% year on year but 3.9% below expectations, and its stock is down 11.1% at $44.72. SEI Investments reported revenues of $641.6 million, up 14.7% and 0.7% above expectations, with its stock up 5.7% at $104.35, while Ridgepost Capital posted revenues of $81.28 million, up 11.5% and 3.6% above expectations, though its shares are down 16.9% at $7.51. On average, custody bank share prices are down 3.8% since the latest earnings results.

Impact on assets 6

Financials± Mixed · 6 stocks
Hamilton Lane Inc
HLNE
▲ PositiveCapitalrelevance

Hamilton Lane posted the group's biggest estimate beat with revenue up 56.5% YoY and 21% above expectations.

Invesco Plc
IVZ
▲ PositiveCapitalrelevance

Invesco reported Q2 revenue up 20.3% YoY, in line with estimates, and beat EBITDA estimates.

Stepstone Group Inc
STEP
▼ NegativeCapitalrelevance

StepStone delivered the weakest performance against estimates, with revenue 3.9% below expectations.

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