Victory Capital: 4Q Earnings Snapshot
BROOKLYN, Ohio (AP) _ Victory Capital Holdings Inc. (VCTR) on Wednesday reported fourth-quarter net income of $13.9 million.
The Brooklyn, Ohio-based company said it had profit of 19 cents per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to 38 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The investment management firm posted revenue of $96 million in the period.
For the year, the company reported profit of $63.7 million, or 90 cents per share. Revenue was reported as $413.4 million.
Victory Capital shares have climbed 7 percent since the beginning of the year.