By Connor Hart
Shares of StepStone Group climbed after the company posted higher adjusted earnings and revenue in its fiscal fourth quarter, boosted by higher fees and more assets under management.
The stock rose 12%, to $63.55, in after-hours trading. Through Thursday's close, shares have gained 50% over the past year.
The private-markets manager after the closing bell posted a profit of $13.2 million for its three months ended March 31, compared with $82.5 million a year earlier.
StepStone notched a net loss attributable to the company of $18.5 million, or 24 cents a share, compared with a profit attributable to the company of $30.8 million, or 48 cents a share, last year.
Stripping out certain one-time items, adjusted net income came in at 68 cents a share, up compared with 33 cents a share in the same quarter last year.
Total revenues increased to $377.7 million from $356.8 million, and assets under management increased to $189.4 billion from $156.6 billion.
Fee revenues climbed 40%, to $214.7 million, while fee-related earnings jumped 80%, to $94.1 million.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 22, 2025 17:55 ET (21:55 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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