Asset manager Horizon Kinetics' Q2 net loss widens on mutual fund weakness - HKHC News | RalliesAsset manager Horizon Kinetics' Q2 net loss widens on mutual fund weakness
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HKHC• Outlook
- Company did not provide specific guidance or outlook for upcoming quarters or the full year in its press release
Overview
- US investment advisory firm's Q2 revenue was flat year over year at $19 million
- Company's Q2 net loss widened to $18.4 million, or $0.99 per share
- Assets under management rose 12.1% year to date, driven by TPL holdings
Key details
| Metric | Actual | Consensus Estimate |
|---|
| Q2 Revenue | $19.04 million | |
| Q2 Operating Income | $2.97 million | |
Revenue drivers
- ETF revenue growth - Company said Q2 management and advisory fee revenues included a 30% increase in revenues from its exchange-traded funds
- - Revenues from separately managed accounts grew in Q2, helped by an increase in new accounts
Separately managed accounts
8.6%
Mutual fund revenue decline - Gains were offset by a 17% decrease in revenues from mutual funds
