Victory Capital: 4Q Earnings Snapshot

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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.

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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