Shares of WisdomTree Investments (WT) soared 5.88% in pre-market trading on Thursday, after the asset management firm reported better-than-expected earnings and revenue for the third quarter of 2024.
WisdomTree reported a non-GAAP earnings per share of $0.18, surpassing analysts' estimates of $0.17 by $0.02. The company's revenue of $113.17 million also beat expectations, coming in $3.92 million higher than the consensus estimate of $110.07 million.
The strong financial performance was driven by solid growth in certain product categories, despite net outflows of $2.4 billion during the quarter. WisdomTree's assets under management (AUM) increased by 2.6% from the previous quarter, reaching $112.6 billion, primarily due to market appreciation.
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