-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：景順(Invesco)公佈2026年第一季調整後每股收益為0.57美元，低於我們先前0.62美元的預期，但接近0.58美元的市場普遍預期。同時，景順連續第11季實現內生性成長，長期淨流入資金達218億美元。由於QQQ轉換帶來的收益以及平均資產管理規模(AUM)的提高，投資管理費年增25.6%至13.8億美元；但由於QQQ的結構性調整，服務費下降了18.6%。我們認為QQQ轉換正按預期推進，對營收成長做出了顯著貢獻，同時也展現了景順(IVZ)從其旗艦產品中獲取更多費用收入的能力。管理層將季度股息提高至每股0.215美元，並批准了一項新的10億美元股票回購計畫。 4.4% 的年化有機成長率和 300 個基點的同比營業利潤率增長至 34.5%，反映了公司多元化的全球平台實力，我們相信，繼續執行 QQQ 轉換優惠政策應該能夠進一步提高營運槓桿和股東回報。
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