SAN ANTONIO — Victory Capital Holdings Inc. (VCTR) on Wednesday reported fourth-quarter earnings of $37.6 million.
The San Antonio-based company said it had profit of 51 cents per share. Earnings, adjusted for one-time gains and costs, came to 99 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The investment management firm posted revenue of $218.6 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $217.7 million.
For the year, the company reported profit of $92.5 million, or $1.26 per share. Revenue was reported as $612.4 million.
Victory Capital shares have climbed 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $23.16, more than doubling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VCTR at https://www.zacks.com/ap/VCTR