CONCORD, Calif. (AP) — CONCORD, Calif. (AP) — AssetMark Financial Holdings Inc. (AMK) on Wednesday reported fourth-quarter earnings of $34.6 million.
On a per-share basis, the Concord, California-based company said it had profit of 46 cents. Earnings, adjusted for one-time gains and costs, were 59 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The financial services company posted revenue of $158.2 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $188.9 million.
For the year, the company reported profit of $123.1 million, or $1.65 per share. Revenue was reported as $708.5 million.
AssetMark Financial shares have climbed 9.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.80, an increase of 23% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMK at https://www.zacks.com/ap/AMK