CHICAGO (AP) _ Envestnet Inc. (ENV) on Wednesday reported second-quarter net income of $613,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the Chicago-based company said it had profit of 2 cents. Earnings, adjusted for one-time gains and costs, were 46 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The financial services firm posted revenue of $224.4 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $225.5 million.
Envestnet shares have climbed 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $64.82, a rise of 5% in the last 12 months.