AssetMark Financial: Q1 Earnings Snapshot
By AP News
Published - May 03, 2023, 06:51 PM ET
Last Updated - Jun 21, 2023, 11:09 PM EDT
CONCORD, Calif. (AP) — CONCORD, Calif. (AP) — AssetMark Financial Holdings Inc. (AMK) on Wednesday reported first-quarter profit of $17.2 million.
On a per-share basis, the Concord, California-based company said it had profit of 23 cents. Earnings, adjusted for pretax expenses and stock option expense, came to 53 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The financial services company posted revenue of $176.6 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $177.4 million.
