Feb. 12 (Bloomberg) — Fidelity Investments, the second-largest U.S. mutual fund company, reported a 13 percent increase in operating income last year as the rally in equities boosted assets.
Earnings, excluding costs such as interest and taxes, increased to $2.6 billion from $2.3 billion in 2012, the Boston- based company said today in its annual report to shareholders. Revenue climbed 7.9 percent to $13.6 billion.
"Higher customer asset levels coupled with product, service, and productivity enhancements resulted in impressive performance for Fidelity," Edward C. Johnson III, chairman and chief executive officer, said in the statement.
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