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Affiliated Managers: 1Q Earnings Snapshot

April 27, 2020 GMT

WEST PALM BEACH, Fla. (AP) _ Affiliated Managers Group Inc. (AMG) on Monday reported a loss of $15.6 million in its first quarter.

On a per-share basis, the West Palm Beach, Florida-based company said it had a loss of 33 cents. Earnings, adjusted for non-recurring costs, came to $3.16 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.14 per share.

The asset manager posted revenue of $507.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $483.7 million.

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Affiliated Managers shares have declined 28% since the beginning of the year. The stock has decreased 46% in the last 12 months.

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