(Changes top to reflect share fall, adds analyst comments)

BOSTON (Reuters) - Shares in Eaton Vance Corp
fell over 3 percent in early trading Wednesday after
the Boston asset manager's results for its fiscal third quarter
missed analyst estimates.

Eaton Vance said that in the third quarter ended July 31,
net income rose to $41.8 million, or 34 cents per share, from
$31.2 million, or 25 cents per share, a year earlier.

Higher fees drove the increase compared with a year before.
But analysts on average had expected the company to earn 38
cents a share, according to Thomson Reuters I/B/E/S, on revenue
of $284.9 million. Revenue came in below that target at $273.1
million.

William Blair analyst Mark Lane said he hopes to hear more
explanation from the company about why fees and revenue were
not as high as analysts had expected. In a note to investors,
meanwhile, Ticonderoga Securities analyst Douglas Sipkin wrote
that the company's net inflows of $4.8 billion for the quarter
also came in below his estimate of $5.2 billion.

The net inflows of $4.8 billion for the July quarter were
up from $3.9 billion a year earlier, but down from flows of
$5.3 billion in the three months ended April 30.

"The miss on both EPS and flows should weigh on shares
today," he wrote.

A spokesman declined to add more detail until after a
conference call the company has scheduled with investors this
morning.

Shares of Eaton Vance had fallen 5 percent for the year
through Tuesday, compared with a decline of 14 percent for a
Dow Jones index of U.S. asset managers. Net inflows to its
funds in past quarters have helped the stock. In Wednesday
morning trading, the stock was down 95 cents or 3.2 percent at
$28.66.
(Reporting by Ross Kerber; Editing by Lisa Von Ahn and Gerald
E. McCormick)