WASHINGTON (AP) — WASHINGTON (AP) — The Carlyle Group Inc. (CG) on Thursday reported a loss of $132.2 million in its first quarter.
The Washington-based company said it had a loss of 37 cents per share. Earnings, adjusted for non-recurring costs, were 89 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The asset management firm posted revenue of $254 million in the period. Its adjusted revenue was $750.9 million, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $898.3 million.
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