Affiliated Managers Group reports mixed Q2 results with earnings beating expectations but revenue missing estimates by $97.74M.
Affiliated Managers Group posted Q2 non-GAAP earnings per share of $8.29, exceeding estimates by $0.37. Revenue reached $493.2M, flat year-over-year but $97.74M below expectations.
Net income attributable to controlling interest totaled $186M, while economic net income stood at $221M. The firm also reported record assets under management of $942B, reflecting strong client inflows despite the revenue miss.
Shares showed limited movement in after-hours trading as investors weighed the earnings beat against the revenue shortfall.