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Victory Capital: 1Q Earnings Snapshot

BROOKLYN, Ohio (AP) _ Victory Capital Holdings Inc. (VCTR) on Tuesday reported first-quarter profit of $14.5 million.

The Brooklyn, Ohio-based company said it had profit of 20 cents per share. Earnings, adjusted for one-time gains and costs, came to 35 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The investment management firm posted revenue of $87.5 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $91 million.

Victory Capital shares have climbed 52% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.55, an increase of 52% 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 VCTR at https://www.zacks.com/ap/VCTR