Affiliated Managers Group Reports Decrease in Net Income for Q1 2023
Consolidated Revenue Sees Decline in Q1 2023, Despite Positive Comprehensive Income
By USInMinutes
Published - Jul 27, 2023, 03:36 PM ET
Last Updated - Aug 20, 2024, 03:45 AM EDT
Affiliated Managers Group, Inc. (AMG) reported a decline in both net incom e and consolidated revenue. Despite challenging market conditions, the company managed to maintain stability in its comprehensive income. Let's delve into the details of AMG's financial performance for the three months ended March 31, 2023.
Net Income Declines
Affiliated Managers Group, Inc. (AMG) experienced a decrease in net income during the first quarter of 2023. Compared to the same period in the previous year, net income fell from $218.7 million to $188.5 million. This represents a significant decline of approximately 13.8% in net income for the quarter.
Consolidated Revenue Drops
