Artisan Partners: 3Q Earnings Snapshot
MILWAUKEE (AP) _ Artisan Partners Asset Management Inc. (APAM) on Tuesday reported third-quarter profit of $42.5 million.
On a per-share basis, the Milwaukee-based company said it had profit of 77 cents. Earnings, adjusted for non-recurring costs, came to 79 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The investment management firm posted revenue of $212.8 million in the period.
Artisan Partners shares have declined 28 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $28.49, a decrease of 19 percent in the last 12 months.