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AssetMark Financial (AMK) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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AssetMark Financial (AMK - Free Report) reported $183.23 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 21.2%. EPS of $0.55 for the same period compares to $0.44 a year ago.
The reported revenue represents a surprise of -0.39% over the Zacks Consensus Estimate of $183.95 million. With the consensus EPS estimate being $0.57, the EPS surprise was -3.51%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how AssetMark Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net flows: $1.70 billion versus $1.69 billion estimated by two analysts on average.
Ending platform assets: $100.80 billion versus $100.79 billion estimated by two analysts on average.
Asset-based revenue: $137.34 million versus the three-analyst average estimate of $138.73 million. The reported number represents a year-over-year change of -1.4%.
Other revenue: $4.93 million versus $3.83 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +218.4% change.
Subscription-based revenue: $3.69 million compared to the $3.77 million average estimate based on three analysts. The reported number represents a change of +13.3% year over year.
Spread-based revenue: $37.27 million versus the three-analyst average estimate of $35.68 million. The reported number represents a year-over-year change of +421.3%.
Shares of AssetMark Financial have returned -1.2% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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AssetMark Financial (AMK) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
AssetMark Financial (AMK - Free Report) reported $183.23 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 21.2%. EPS of $0.55 for the same period compares to $0.44 a year ago.
The reported revenue represents a surprise of -0.39% over the Zacks Consensus Estimate of $183.95 million. With the consensus EPS estimate being $0.57, the EPS surprise was -3.51%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how AssetMark Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net flows: $1.70 billion versus $1.69 billion estimated by two analysts on average.
- Ending platform assets: $100.80 billion versus $100.79 billion estimated by two analysts on average.
- Asset-based revenue: $137.34 million versus the three-analyst average estimate of $138.73 million. The reported number represents a year-over-year change of -1.4%.
- Other revenue: $4.93 million versus $3.83 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +218.4% change.
- Subscription-based revenue: $3.69 million compared to the $3.77 million average estimate based on three analysts. The reported number represents a change of +13.3% year over year.
- Spread-based revenue: $37.27 million versus the three-analyst average estimate of $35.68 million. The reported number represents a year-over-year change of +421.3%.
View all Key Company Metrics for AssetMark Financial here>>>Shares of AssetMark Financial have returned -1.2% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.