What changed
Invesco reported Q2 adjusted diluted EPS of $0.71, beating consensus by $0.04 (6.0%). Revenue grew 5% sequentially with flat expenses, driving a 3ppt adjusted operating margin expansion to 37.5%. The market may miss that record $45.1B net long-term inflows were driven by ETFs/Index ($30.1B) and QQQ ($13.8B), while Fundamental Equities saw $7.7B outflows, highlighting a shift to passive products.
Why it matters
Invesco reported Q2 adjusted diluted EPS of $0.71, beating consensus by $0.04 (6.0%). Revenue grew 5% sequentially with flat expenses, driving a 3ppt adjusted operating margin expansion to 37.5%. The market may miss that record $45.1B net long-term inflows were driven by ETFs/Index ($30.1B) and QQQ ($13.8B), while Fundamental Equities saw $7.7B outflows, highlighting a shift to passive products.