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4 months ago
Carlyle Q1 results blow past forecasts, aided by stock rally
May 3, 2017 / 11:17 AM / 4 months ago

Carlyle Q1 results blow past forecasts, aided by stock rally

NEW YORK, May 3 (Reuters) - Private equity firm Carlyle Group LP posted first quarter earnings that handily beat expectations on Wednesday, in line with its peers, after a buoyant stock market lifted investment returns across the industry.

Carlyle earned an economic net income (ENI) of $364.6 million after taxes, more than six times what it earned a year earlier. That translated into $1.09 of ENI per share after taxes, well above analyst forecasts for 38 cents per share.

ENI is a crucial performance measure for U.S. private equity firms as it accounts for unrealized gains or losses in investments. (Reporting by Koh Gui Qing; Editing by Chizu Nomiyama)

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