Artisan Partners: 2Q Earnings Snapshot
MILWAUKEE (AP) _ Artisan Partners Asset Management Inc. (APAM) on Tuesday reported second-quarter profit of $42 million.
The Milwaukee-based company said it had net income of 72 cents per share. Earnings, adjusted for non-recurring costs, were 76 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The investment management firm posted revenue of $212.3 million in the period.
Artisan Partners shares have fallen 13 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $34.50, a rise of roughly 4 percent in the last 12 months.