CONCORD, Calif. (AP) — CONCORD, Calif. (AP) — AssetMark Financial Holdings Inc. (AMK) on Wednesday reported fourth-quarter profit of $25.6 million.
The Concord, California-based company said it had net income of 35 cents per share. Earnings, adjusted for one-time gains and costs, were 46 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The financial services company posted revenue of $164.1 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $159.9 million.
For the year, the company reported profit of $103.3 million, or $1.40 per share. Revenue was reported as $618.3 million.
AssetMark Financial shares have risen 16% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $26.76, a rise of 13% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMK at https://www.zacks.com/ap/AMK
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