UPDATE: Carlyle Posts Q2 Profit

Carlyle Group LP

posted a profit in the second quarter. The Washington, District of Columbia-based company posted a quarterly profit of $20 million, or $0.27 per share, versus a year-ago loss of $3.3 million, or $0.07 per share. Its economic net income surged to $318 million, or $0.73 per share, compared to $156 million, or $0.39 per share. However, analysts were expecting earnings of $0.74 per share. Its revenue climbed 77.2% y/y to $900 million, versus estimates of $781 million. Carlyle raised $7.4 billion in new money, versus $6.9 billion in the year-ago period. Its assets under management surged to $202.7 billion, versus $180.4 billion in the year-earlier period and $199 billion at the end of March. The company's board declared a quarterly distribution of $0.16 per common unit. Carlyle Co-CEO David M. Rubenstein said, "Carlyle raised a significant amount of capital in the second quarter. Our track record, combined with increased demand for alternative investment strategies from large limited partners, led to substantial new fund commitments. Fundraising in our Real Assets segment was particularly strong this quarter." Carlyle shares rose 0.88% to close at $34.39 yesterday.