Eaton Vance Corporation (EV) has reported 4.58 percent rise in profit for the quarter ended Oct. 31, 2016. The company has earned $65.06 million, or $0.57 a share in the quarter, compared with $62.20 million, or $0.53 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $65.13 million, or $0.57 a share compared with $61.80 million or $0.53 a share, a year ago. 

Revenue during the quarter went up marginally by 1.58 percent to $346.85 million from $341.46 million in the previous year period. Total expenses were 67.95 percent of quarterly revenues, up from 67.51 percent for the same period last year. That has resulted in a contraction of 44 basis points in operating margin to 32.05 percent.

Operating income for the quarter was $111.15 million, compared with $110.93 million in the previous year period.

However, the adjusted operating income for the quarter was almost stable at $111.15 million when compared with the prior year period.

"The positive organic growth Eaton Vance experienced in the first nine months of our fiscal year continued through the fourth quarter, as strong flows into Custom Beta strategies were supported by positive net sales of active strategies," said Thomas E. Faust Jr., chairman and chief executive officer. "Steady earnings progress over the course of the fiscal year positions the Company for continued improvement in fiscal 2017."