AP NEWS

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.

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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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