Profit, revenues, fees down. Compensation way up. The shadow government is not concerned.
“We had another excellent year,” David M. Rubenstein, one of Carlyle’s co-chief executives, said in a statement. “Our performance over the past two years was marked by steady, continuous progress across our business.”
What’s this? The peons are not impressed?
Carlyle Group is having its first taste of a disappointing public report.
The private equity firm went public last May and though the first month was tepid, its stock has rocketed higher since, up 68% through Wednesday.
But Thursday, its fourth-quarter report hit and the stock is on pace for its worst one-day drop in its public life. The stock is down 8% to $33.70 on much larger-than-average volumes. Earlier it fell as much as 13%.
Carlyle’s Profit Fell in 4th Quarter as Growth Slowed [NYT]
Carlyle Shares Suffering Worst Day in Public Life [WSJ Deal Journal blog]
Carlyle Falls Most Since May as Earnings Miss Estimates [Bloomberg]