Affiliated Managers (AMG) Q2 Earnings Beat on Lower Expenses

Affiliated Managers Group Inc.’s (AMG) second-quarter 2024 economic earnings of $4.67 per share outpaced the Zacks Consensus Estimate of$4.60. The bottom line also grew 4.9% from the prior-year number.Results were aided by an improvement in the assets under management (AUM) balance and a decline in expenses. Further, the company had a robust liquidity position. However, lower revenues were the undermining factor.Economic net income was $155.9 million, up 6.8% year over year. Our estimate for this metric wa ...