Shares of StepStone Group Inc. (STEP) surged 7.73% in after-hours trading on Thursday following the release of the company's fourth-quarter fiscal 2025 financial results, which significantly exceeded analyst expectations.

The global private markets investment firm reported adjusted earnings per share of $0.68, handily beating the consensus estimate of $0.44 and more than doubling the $0.33 per share earned in the same quarter last year. Total revenue for the quarter ended March 31 came in at $377.7 million, far surpassing analyst projections of $229.4 million and showing a solid increase from $356.8 million in the year-ago period.

Adding to investor enthusiasm, StepStone maintained its quarterly dividend at $0.24 per share and announced a supplemental cash dividend of $0.40 per share of Class A common stock. Both dividends are payable on June 30 to shareholders of record as of June 13. The company also reported that its assets under management grew to $189 billion, underlining its continued expansion in the private markets sector.