WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Affiliated Managers Group Inc. (AMG) on Monday reported third-quarter net income of $212.4 million.
The West Palm Beach, Florida-based company said it had net income of $6.87 per share. Earnings, adjusted for one-time gains and costs, were $6.10 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $5.83 per share.
The asset manager posted revenue of $528 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $521.1 million.
Affiliated Managers shares have increased 29% since the beginning of the year. The stock has risen 23% 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 AMG at https://www.zacks.com/ap/AMG
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