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Affiliated Managers (AMG) Q1 Earnings Lag, Revenues Down
Affiliated Managers Group Inc.’s AMG first-quarter 2019 economic earnings of $3.26 per share lagged the Zacks Consensus Estimate by a penny. Also, the figure was down 16.8% year over year.
Results were adversely impacted by decline in revenues and fall in assets under management (AUM). However, lower expenses and robust liquidity position acted as tailwinds.
Economic net income was $169 million, down21.5% from the prior-year quarter.
Revenues & Expenses Down
Total revenues fell 11.3% year over year to $543.1 million. However, the top line beat the Zacks Consensus Estimate of $535 million.
Adjusted earnings before interest, taxes, depreciation and amortization were $215.6 million, plunging24.7% from the year-ago quarter.
Total operating expenses decreased 10.9% to $387.8 million. All cost components except intangible amortization and impairments declined.
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https://finance.yahoo.com/news/affiliate...01983.html
![[Bild: AMGc1dl1523.png]](https://finviz.com/publish/050619/AMGc1dl1523.png)
Affiliated Managers Group Inc.’s AMG first-quarter 2019 economic earnings of $3.26 per share lagged the Zacks Consensus Estimate by a penny. Also, the figure was down 16.8% year over year.
Results were adversely impacted by decline in revenues and fall in assets under management (AUM). However, lower expenses and robust liquidity position acted as tailwinds.
Economic net income was $169 million, down21.5% from the prior-year quarter.
Revenues & Expenses Down
Total revenues fell 11.3% year over year to $543.1 million. However, the top line beat the Zacks Consensus Estimate of $535 million.
Adjusted earnings before interest, taxes, depreciation and amortization were $215.6 million, plunging24.7% from the year-ago quarter.
Total operating expenses decreased 10.9% to $387.8 million. All cost components except intangible amortization and impairments declined.
...
https://finance.yahoo.com/news/affiliate...01983.html
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