Affiliated Managers: Q1 Earnings Snapshot
By AP News
Published - May 01, 2023, 07:09 AM ET
Last Updated - Jun 22, 2023, 12:37 AM EDT
WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Affiliated Managers Group Inc. (AMG) on Monday reported first-quarter profit of $134.5 million.
On a per-share basis, the West Palm Beach, Florida-based company said it had profit of $3.47. Earnings, adjusted for non-recurring costs, were $4.18 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.15 per share.
The asset manager posted revenue of $517.4 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $546.8 million.
