What: Shares of Financial Engines (NASDAQ: FNGN ) were churning higher today, closing up 10% after beating estimates in its quarterly report.
So what: The financial-advisory firm said revenue increased 28% to $62.1 million in the quarter, while earnings per share moved up to $0.15 from $0.10, beating estimates of $0.13. Financial Engines now has $752 billion in assets under concerns, and CEO Jeff Maggioncalda said, "With the broad adoption of Income+ by large plan sponsors and the continuing enhancements to our advisory services, Financial Services is well positioned to provide personalized help to millions of individuals as the transition to retirement."
Now what: Assets under management have grown by a third in the last year as the company's growth initiatives seem to be paying off. Perhaps the increasing population of retiring baby boomers will also help Financial Engines naturally grow its customer base. Its full-year revenue guidance at $238 million to $240 million is also slightly ahead of the consensus at $236 million. Still, the company's triple-digit P/E seems hard to justify.
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