Artisan Partners (NYSE:APAM) Misses Q3 Revenue Estimates

Artisan Partners' recent quarterly results reveal a mixed performance. While revenue grew by nearly 8% year over year, it fell short of Wall Street's expectations. However, earnings outperformed predictions, with adjusted profit at $1.02 per share, a 5% increase. Assets under management increased by almost 6% to $177.4 billion, but this was also below analyst projections. Despite slower growth over the past four years, the company's asset growth has recently picked up pace, outpacing revenue growth. Revenue growth has been modest at around 6.5% annually over the last five years, but it surged to over 10% in the last two years. The market responded positively, with shares rising by about 3% following the results. Overall, while there are signs of improvement, Artisan Partners' long-term growth remains average for the industry, making the stock's appeal as a buy depend on future trends and their ability to exceed earnings expectations and catch up on asset growth.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.