The Carlyle Group Inc. (CG), an investment firm specializing in direct and fund of fund investments, Friday reported higher earnings and revenue for the fourth quarter compared to the same period last year.
Following this news the stock was up 3.7% in the pre-market.
Quarterly earnings increased to $358.1million or $0.96 per share from $210.9 million or $0.57 per share of prior year.
On average, analysts were expecting earnings of $0.99 per share. Analysts' estimates typically exclude special items.
Revenues grew to $1.9 billion from $1.03 billion of the previous year.
The Street View was $1.05 billion.
Total assets under management rose 8 percent to $477 billion from $441 billion of last year.
Inflows were $9.2 billion a 32 percent increase from fiscal 2024 driven by record fundraising in Carlyle AlpInvest and inflows across Global Credit.
Quarterly Fee Related Earnings grew 1 percent to $290 million from $287 million of the same period last year.
Investment income jumped to $1.006 billion from $220.5 million of prior year.
Further, the company declared a quarterly dividend of $0.35 per share to shareholders of record on February 16, payable on February 20.
In pre-market, CG shares were trading at $57.50, up 3.77% on the Nasdaq.
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