SAN ANTONIO (AP) _ Victory Capital Holdings Inc. (VCTR) on Wednesday reported fourth-quarter net income of $54.9 million.
On a per-share basis, the San Antonio-based company said it had net income of 75 cents. Earnings, adjusted for non-recurring costs and stock option expense, were $1.07 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The investment management firm posted revenue of $200.4 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $196.5 million.
For the year, the company reported profit of $212.5 million, or $2.88 per share. Revenue was reported as $775.4 million.
Victory Capital shares have decreased slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.77, a climb of 14% in the last 12 months.