AssetMark Financial (AMK) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates

Core Insights - AssetMark Financial reported a revenue of $158.18 million for the quarter ended December 2023, reflecting a decrease of 3.6% year-over-year [1] - The earnings per share (EPS) was $0.59, an increase from $0.46 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $188.88 million, resulting in a surprise of -16.25%, while the EPS exceeded the consensus estimate of $0.57 by 3.51% [1] Financial Performance Metrics - Ending platform assets reached $108.93 billion, surpassing the average estimate of $104.45 billion from three analysts [2] - Assets in custody at ATC were reported at 80,325, below the average estimate of 85,528 from three analysts [2] - Net flows amounted to $1.27 billion, slightly below the average estimate of $1.40 billion from two analysts [2] - Asset-based revenue was $141.27 million, close to the average estimate of $141.66 million, showing a year-over-year increase of 13.3% [2] - Subscription-based revenue was $4.05 million, slightly above the estimated $4.03 million, representing a year-over-year increase of 22.1% [2] - Other revenue reached $5.47 million, exceeding the average estimate of $4.75 million, with a significant year-over-year increase of 82.9% [2] - Spread-based revenue was reported at $7.40 million, significantly lower than the average estimate of $37.85 million, indicating a year-over-year decline of 77.7% [2] Stock Performance - Over the past month, shares of AssetMark Financial have returned +6.5%, outperforming the Zacks S&P 500 composite's +3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]