Artisan Partners (APAM) Q2 Earnings Miss Estimates on Lower AUM
APAMArtisan Partners(APAM) ZACKS·2024-07-24 21:40

Artisan Partners Asset Management Inc. (APAM) reported second-quarter 2024 adjusted net income per adjusted share of 82 cents, missing the Zacks Consensus Estimate of 87 cents. The bottom line, however, increased 15% from the prior-year quarter.Results were adversely affected by the declining assets under management (AUM) balance, along with the rising operating costs. Nonetheless, an increase in Global Funds and Separate accounts resulted in top-line growth. Also, the balance sheet position improved in the ...