AssetMark Financial: 2Q Earnings Snapshot
Posted August 4, 2020 6:30 pm.
Last Updated August 4, 2020 6:38 pm.
This article is more than 5 years old.
CONCORD, Calif. (AP) _ AssetMark Financial Holdings Inc. (AMK) on Tuesday reported a second-quarter loss of $9.3 million, after reporting a profit in the same period a year earlier.
The Concord, California-based company said it had a loss of 14 cents per share. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 22 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The financial services company posted revenue of $99.1 million in the period.
AssetMark Financial shares have declined 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.27, an increase of roughly 1% 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 AMK at https://www.zacks.com/ap/AMK
The Associated Press
