AP NEWS

AssetMark Financial: 4Q Earnings Snapshot

February 26, 2020 GMT

CONCORD, Calif. (AP) _ AssetMark Financial Holdings Inc. (AMK) on Wednesday reported a loss of $2.7 million in its fourth quarter.

On a per-share basis, the Concord, California-based company said it had a loss of 4 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were 27 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The financial services company posted revenue of $111 million in the period.

For the year, the company reported a loss of $420,000, or 1 cent per share. Revenue was reported as $417.9 million.

AssetMark Financial shares have risen roughly 2% since the beginning of the year.

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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 AMK at https://www.zacks.com/ap/AMK