WASHINGTON (AP) — WASHINGTON (AP) — The Carlyle Group Inc. (CG) on Tuesday reported third-quarter profit of $81.3 million.
On a per-share basis, the Washington-based company said it had profit of 22 cents. Earnings, adjusted for non-recurring costs, came to 87 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The asset management firm posted revenue of $716.6 million in the period. Its adjusted revenue was $776.6 million, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $825.5 million.
Carlyle shares have declined 3% since the beginning of the year. The stock has increased 3.5% 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