Artisan Partners Asset Management IncEarnings per share significantly missed estimates, despite revenue meeting expectations.
Artisan Partners reported first-quarter revenues of $303 million, a 9.3% year-on-year increase that met analyst expectations, though earnings per share significantly missed estimates. Among the five asset management stocks tracked, TPG was the best performer with revenues of $570 million, up 20.7% and beating estimates by 5.2%, while Carlyle was the weakest with revenues of $750.9 million, down 28% and missing estimates by 13%. Ares posted the fastest revenue growth at 26.2% to $1.27 billion, and Blackstone reported revenues of $3.46 billion, up 24.2% and beating estimates by 1.4%. As a group, revenues missed consensus estimates by 1.8%, and share prices have fallen an average of 8.9% since the earnings releases.
Artisan Partners Asset Management IncEarnings per share significantly missed estimates, despite revenue meeting expectations.
Ares Management LPRevenue grew 26.2% to $1.27 billion, the fastest growth among peers.
Carlyle Group IncRevenue down 28% to $750.9 million, missing estimates by 13%.
TPG IncRevenue up 20.7% to $570 million, beating estimates by 5.2%.
Blackstone Group IncRevenue of $3.46 billion up 24.2%, beating estimates by 1.4%.