Federated Hermes, Inc. announced its second-quarter 2025 financial results, reporting diluted earnings per share (EPS) of $1.16, a substantial increase from $0.20 in Q2 2024. The prior year's quarter included a $66.3 million non-cash expense related to an intangible asset impairment. Net income for Q2 2025 was $91.0 million, up from $21.0 million in Q2 2024.
The company achieved a record $845.7 billion in total managed assets at June 30, 2025, marking an 8% increase from $782.7 billion a year prior. Money market assets remained robust at $634.4 billion, up 8% year-over-year, with money market fund assets reaching a record $468.0 billion. Equity assets also saw significant growth, increasing by 14% year-over-year to $89.0 billion, driven by continued interest in MDT equity and alternative quantitative investment solutions.
Revenue for Q2 2025 increased by $22.3 million, or 6%, primarily due to higher average money market and equity assets. Federated Hermes' board of directors declared a dividend of $0.34 per share, consistent with the previous quarter. The company also purchased 1,547,182 shares of Class B common stock for $64.5 million during the quarter and authorized its 18th share repurchase program, allowing for the buyback of up to an additional 5 million shares.
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