AssetMark Financial: Q1 Earnings Snapshot

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CONCORD, Calif. (AP) — CONCORD, Calif. (AP) — AssetMark Financial Holdings Inc. (AMK) on Wednesday reported first-quarter earnings of $38 million.

The Concord, California-based company said it had profit of 50 cents per share. Earnings, adjusted for one-time gains and costs, came to 60 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The financial services company posted revenue of $190.3 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $186.5 million.

AssetMark Financial shares have increased 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $33.94, a rise of nearly 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMK at https://www.zacks.com/ap/AMK