Published on 24 Apr 2024 on Zacks via Yahoo Finance
Artisan Partners (APAM) Q1 Earnings Miss Estimates, AUM Rises
Artisan Partners Asset Management Inc. APAM reported first-quarter 2024 adjusted net income per adjusted share of 76 cents, missing the Zacks Consensus Estimate of 79 cents. The bottom line increased 18.7% year over year.
Results benefited from a rise in management fees earned from Artisan Funds & Artisan Global Funds and Separate accounts, which resulted in top-line growth. The balance sheet position and the assets under management (AUM) balance improved in the reported quarter. However, elevated operating expenses were the undermining factors.