SAN ANTONIO (AP) — SAN ANTONIO (AP) — Victory Capital Holdings Inc. (VCTR) on Thursday reported third-quarter earnings of $52 million.

The San Antonio-based company said it had profit of 77 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, were $1.18 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The investment management firm posted revenue of $209.7 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $206.5 million.

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