WASHINGTON (AP) — WASHINGTON (AP) — The Carlyle Group Inc. (CG) on Monday reported second-quarter net income of $148.2 million, after reporting a loss in the same period a year earlier.
The Washington-based company said it had profit of 40 cents per share. Earnings, adjusted for non-recurring costs, were 78 cents per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The asset management firm posted revenue of $1.07 billion in the period. Its adjusted revenue was $788.9 million, also missing Street forecasts. Four analysts surveyed by Zacks expected $842 million.
Carlyle shares have risen roughly 9% since the beginning of the year. The stock has risen 40% 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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