WEST PALM BEACH, Fla. (AP) _ Affiliated Managers Group Inc. (AMG) on Monday reported third-quarter net income of $71.3 million.

The West Palm Beach, Florida-based company said it had profit of $1.53 per share. Earnings, adjusted for one-time gains and costs, were $3.27 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.86 per share.

The asset manager posted revenue of $494.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $478.4 million.

Affiliated Managers shares have dropped slightly more than 6% since the beginning of the year. The stock has risen slightly more than 3% 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 AMG at https://www.zacks.com/ap/AMG

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