CONCORD, Calif. (AP) _ AssetMark Financial Holdings Inc. (AMK) on Tuesday reported third-quarter profit of $30.1 million.
The Concord, California-based company said it had net income of 41 cents per share. Earnings, adjusted for one-time gains and costs, came to 47 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The financial services company posted revenue of $154.7 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $138.1 million.
AssetMark Financial shares have declined 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.44, a drop of 21% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AMK">Zacks stock report on AMK at https://www.zacks.com/ap/AMK