SAN MATEO, Calif. (AP) _ Franklin Resources Inc. (BEN) on Thursday reported fiscal first-quarter profit of $350.5 million.

On a per-share basis, the San Mateo, California-based company said it had profit of 70 cents.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The investment manager posted revenue of $1.41 billion in the period.

Franklin Resources shares have fallen slightly more than 4% since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 1%. The stock has decreased 20% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BEN at https://www.zacks.com/ap/BEN

Automated Insights, source Associated Press News