By Katherine Hamilton
KKR swung to a loss in the first quarter, but beat Wall Street expectations with adjusted earnings and asset management revenue.
The New York investment firm on Thursday posted a loss of $185.9 million or 22 cents a share, in the quarter ended March 31, compared with a profit of $682.2 million, or 74 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $1.15, ahead of the $1.13 forecast by analysts, according to FactSet.
Total revenue fell 68% to $3.11 billion. Asset management segment revenue rose to $1.77 billion from $1.39 billion, ahead of the $1.71 billion analysts polled by FactSet forecast.
"Over our 49-year history, we have successfully navigated many periods of uncertainty," Co-Chief Executives Joseph Bae and Scott Nuttal said. "Volatility can yield attractive investment opportunities."
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
May 01, 2025 09:56 ET (13:56 GMT)
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