Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Costs barely moved, so most new fees became profit
Revenue rose 14.2% while operating costs rose 4.9%, so most of the extra fees reached operating profit.
For investorsWhat Invesco's wider margin depends on from here
For foundersOwning the contract, not just the product
QQQ's conversion to an open-end ETF turned pass-through service revenue into management fees, and brought its own advertising bill.
Fees passed on to brokers and platforms equal 34.4% of revenue, so gross revenue overstates what Invesco keeps.
Pre-tax income rose 33.8%, yet net income was flat because the year-ago quarter carried a tax benefit.
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Business Lens describes Invesco from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
