Artisan Partners beats 3Q profit forecasts

Associated Press

Nov. 1, 2017

MILWAUKEE Artisan Partners Asset Management Inc. (APAM) on Tuesday reported third-quarter profit of $30.7 million.

On a per-share basis, the Milwaukee-based company said it had net income of 61 cents. Earnings, adjusted for non-recurring costs, were 65 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The investment management firm posted revenue of $204.6 million in the period.