U.S. Global Investors Q1 net income jumps 378% helped by investment income gains
U.S. Global Investors reported a 378% year-over-year increase in net income for fiscal Q1, primarily driven by a nearly 300% rise in investment income. Operating revenues increased by 15% from the previous quarter and 4% year-over-year. Positive fund flows into gold mining and natural resource funds were noted, attributed to a historic surge in gold prices. Average assets under management (AUM) saw a slight increase from the previous quarter but remained below year-ago levels.
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Overview
- U.S. Global Investors fiscal Q1 net income rises 378% yr/yr, driven by investment income
- Company fiscal Q1 operating revenues up 15% from June qtr, 4% yr/yr
- Fund flows into gold mining and natural resource funds turn positive
Result Drivers
- INVESTMENT INCOME - Net income increase largely driven by investment income, which rose nearly 300% from the previous quarter
- GOLD FUND FLOWS - Positive fund flows into gold mining and natural resource funds due to historic gold price surge
- AUM SLIGHT INCREASE - Average AUM rose slightly from previous quarter but below year-ago levels
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q1 Net $1.50
Income mln
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
