JUPITER, Fla. (AP) — JUPITER, Fla. (AP) — Affiliated Managers Group Inc. (AMG) on Thursday reported second-quarter profit of $185.9 million.
The Jupiter, Florida-based company said it had profit of $6.95 per share. Earnings, adjusted for non-recurring costs, were $8.29 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $7.85 per share.
The asset manager posted revenue of $640.7 million in the period.
Affiliated Managers shares have climbed 25% since the beginning of the year. The stock has increased 70% in the last 12 months.
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