By Connor Hart
Carlyle Group said profit and revenue climbed higher in the first quarter.
The private-equity group on Thursday posted net income of $130 million, or 35 cents a share, compared with $65.6 million, or 18 cents a share, a year earlier.
Distributable earnings, or profit that can be returned to shareholders, rose to $455.4 million, or $1.14 a share, from $431.3 million, or $1.01 a share, last year. Analysts polled by FactSet expected distributable earnings of $347.4 million.
Revenue jumped 41%, to $973.1 million, but missed the $992.4 million for which analysts were looking. Total assets under management increased 6%, to $452.6 billion.
Chief Executive Harvey Schwartz said the firm is well positioned to navigate across market cycles and capture opportunities, citing its experience, scale and asset-light approach. "With $84 billion in dry powder and on the ground insights across global markets, we remain confident in our ability to drive long-term value for our clients and shareholders," he said.
The board additionally declared a quarterly dividend of 35 cents a share, flat from a year earlier and last quarter.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 08, 2025 06:01 ET (10:01 GMT)
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