Waddell & Reed Financial, Inc. reported unaudited consolidated earnings results for the first quarter ended of March 31, 2018. For the quarter, the company reported total revenues of $297,615,000 compared to $286,564,000 a year ago. Operating income was $59,923,000 compared to $53,006,000 a year ago. Income before taxes was $60,937,000 compared to $53,232,000 a year ago. Net income attributable to company was $46,337,000 or $0.56 per basic and diluted share compared to $33,871,000 or $0.40 per basic and diluted share a year ago. Cash provided by operating activities was $50,265,000 compared to $63,565,000 a year ago.

For the second quarter of 2018, the company expects tax rate to be between 23% and 25%, excluding an additional charge expected in the second quarter for the shortfall associated with price changes per share-based compensation of approximately $4.5 million.