AssetMark Financial: Q1 Earnings Snapshot

CONCORD, Calif. (AP) _ AssetMark Financial Holdings Inc. (AMK) on Tuesday reported a first-quarter loss of $8.9 million, after reporting a profit in the same period a year earlier.

The Concord, California-based company said it had a loss of 13 cents per share. Earnings, adjusted for one-time gains and costs, were 30 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The financial services company posted revenue of $119 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $120.4 million.

AssetMark Financial shares have declined slightly more than 8% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.20, a decrease of slightly more than 4% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on AMK at