(File Photo of a Dollar Sign)

PITTSBURGH (AP) — Federated Hermes, Inc. (FHI) on Thursday reported fourth-quarter net income of $107 million.

On a per-share basis, the Pittsburgh-based company said it had profit of $1.39.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The one of the nation’s largest managers of money market funds posted revenue of $482.8 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $470.1 million.

For the year, the company reported profit of $403.3 million, or $5.13 per share. Revenue was reported as $1.8 billion.