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Artisan Partners: 3Q Earnings Snapshot

·1 min read

MILWAUKEE (AP) _ Artisan Partners Asset Management Inc. (APAM) on Tuesday reported third-quarter earnings of $58.5 million.

On a per-share basis, the Milwaukee-based company said it had profit of 93 cents. Earnings, adjusted for one-time items, came to 90 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The investment management firm posted revenue of $232.7 million in the period.

Artisan Partners shares have risen 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $41.67, an increase of 53% 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 APAM at https://www.zacks.com/ap/APAM