Affiliated Managers: Q2 Earnings Snapshot

WEST PALM BEACH, Fla. — WEST PALM BEACH, Fla. — Affiliated Managers Group Inc. (AMG) on Monday reported second-quarter earnings of $76 million.

The West Palm Beach, Florida-based company said it had profit of $2.26 per share. Earnings, adjusted for non-recurring costs, came to $4.67 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $4.60 per share.

The asset manager posted revenue of $500.3 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $520 million.

Affiliated Managers shares have risen 17% since the beginning of the year. The stock has risen 27% in the last 12 months.

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