WASHINGTON (AP) — WASHINGTON (AP) — The Carlyle Group Inc. (CG) on Wednesday reported first-quarter profit of $65.6 million.
On a per-share basis, the Washington-based company said it had profit of 18 cents. Earnings, adjusted for non-recurring costs, were $1.01 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The asset management firm posted revenue of $688.4 million in the period. Its adjusted revenue was $1.02 billion, which missed Street forecasts. Five analysts surveyed by Zacks expected $1.03 billion.
Carlyle shares have risen 10% since the beginning of the year. The stock has risen 47% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CG at https://www.zacks.com/ap/CG
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