Affiliated Managers: 2Q Earnings Snapshot

July 30, 2018

WEST PALM BEACH, Fla. (AP) _ Affiliated Managers Group Inc. (AMG) on Monday reported second-quarter profit of $117 million.

On a per-share basis, the West Palm Beach, Florida-based company said it had profit of $2.16. Earnings, adjusted for non-recurring costs, were $3.61 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.59 per share.

The asset manager posted revenue of $600.1 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $597.7 million.

Affiliated Managers shares have dropped 26 percent since the beginning of the year. The stock has decreased 15 percent in the last 12 months.


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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