WEST PALM BEACH, Fla. (AP) _ Affiliated Managers Group Inc. (AMG) on Monday reported a first-quarter loss of $200.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the West Palm Beach, Florida-based company said it had a loss of $3.87. Earnings, adjusted for one-time gains and costs, were $3.26 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.27 per share.
The asset manager posted revenue of $543.1 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $535 million.
Affiliated Managers shares have increased 14% since the beginning of the year. The stock has fallen 31% in the last 12 months.
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