Ares Management: Q2 Earnings Snapshot
By AP News
Published - Aug 02, 2024, 06:34 AM ET
Last Updated - Aug 02, 2024, 06:35 AM EDT
LOS ANGELES (AP) — LOS ANGELES (AP) — Ares Management LP (ARES) on Friday reported second-quarter net income of $94.9 million.
The Los Angeles-based company said it had net income of 43 cents per share. Earnings, adjusted for non-recurring costs, were 99 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The private equity firm posted revenue of $788.7 million in the period. Its adjusted revenue was $786.5 million, which missed Street forecasts. Four analysts surveyed by Zacks expected $860.1 million.
