Reports Q4 revenue $ $297M, consensus $292.7M…AUM at December 31, 2024 was $161.2 billion, up 7% from $150.2 billion at December 31, 2023. The change in AUM from the prior year quarter was primarily due to investment returns of $15.9 billion, partially offset by $3.7 billion of net client cash outflows and $1.2 billion of Artisan Funds’ distributions that were not reinvested. Average AUM for the December 2024 quarter was $165.4 billion, 18% higher than average AUM for the December 2023 quarter. Revenues of $297.0 million in the December 2024 quarter increased $48.0 million, or 19%, from $249.0 million in the December 2023 quarter, primarily due to higher average AUM and a $10.6 million increase in performance fee revenue. Operating expenses of $187.9 million in the December 2024 quarter increased $15.3 million, or 9%, from $172.6 million in the December 2023 quarter, primarily due to an increase in compensation and benefits largely driven by higher revenues.
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