WisdomTree misses by $0.01, beats on revs (10.41)
- Reports Q2 (Jun) adj. earnings of $0.06 per share, $0.01 worse thanthe Capital IQ Consensus of $0.07; revenues rose 13.2% year/year to $63.4 mln vs the $57.27 mln Capital IQ Consensus. Advisory fees of $56.1 million were relatively unchanged from the second quarter of 2016 as an increase in our average global AUM was offset by lower average U.S. advisory fees due to a change in product mix. Our average global AUM increased primarily due to market appreciation of our U.S. listed ETFs and net inflows into our U.S. Equity ETFs and our European listed ETPs. These increases were partly offset by outflows primarily in our two largest ETFs.
- "We continue to make progress diversifying the business and positioning the firm to capitalize on the secular shifts underway in the industry. We've seen improved diversification of assets and net flows driven by core and tactical exposures, through a focused distribution effort and aggressive product launches over the past few years."