Affiliated Managers: 4Q Earnings Snapshot

WEST PALM BEACH, Fla. (AP) _ Affiliated Managers Group Inc. (AMG) on Monday reported a fourth-quarter loss of $151.3 million, after reporting a profit in the same period a year earlier.

The West Palm Beach, Florida-based company said it had a loss of $2.88 per share. Earnings, adjusted for non-recurring costs, were $3.53 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.51 per share.

The asset manager posted revenue of $564.4 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $555.9 million.

For the year, the company reported profit of $243.6 million, or $4.52 per share.