Carlyle Q1 results blow past forecasts, aided by stock rally
NEW YORK May 3 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)