Compared to Estimates, AssetMark Financial (AMK) Q2 Earnings: A Look at Key Metrics

Core Insights - AssetMark Financial reported revenue of $198.49 million for the quarter ended June 2024, reflecting an 8.3% increase year-over-year and exceeding the Zacks Consensus Estimate of $193.28 million by 2.70% [1] - Earnings per share (EPS) for the quarter was $0.66, up from $0.55 in the same quarter last year, aligning with the consensus EPS estimate [1] Financial Performance Metrics - Assets in custody at ATC at period-end were 88,681, surpassing the two-analyst average estimate of 88,154 [2] - Ending platform assets totaled $119.39 billion, slightly below the average estimate of $119.61 billion [2] - Asset-based revenue reached $158.88 million, a 15.7% increase year-over-year, but below the average estimate of $159.12 million [2] - Spread-based revenue was reported at $28.85 million, down 22.6% year-over-year, and below the average estimate of $29.47 million [2] - Subscription-based revenue increased to $4.31 million, a 16.6% year-over-year change, exceeding the average estimate of $4.26 million [2] - Other revenue was $6.45 million, significantly higher than the three-analyst average estimate of $5.67 million, representing a 30.9% year-over-year increase [2] Stock Performance - Over the past month, shares of AssetMark Financial have returned +0.4%, compared to a +2.1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential outperformance against the broader market in the near term [3]