Carlyle net income falls sharply, revenue misses target but distributable earnings beat

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Carlyle net income falls sharply, revenue misses target but distributable earnings beat
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Carlyle Group Inc. beat its distributable earnings target, but missed Wall Street’s revenue mark as its fourth-quarter profit fell sharply, the private...

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Carlyle Group Inc. CG beat its distributable earnings target, but missed Wall Street’s revenue mark as its fourth-quarter profit fell sharply, the private equity firm said Tuesday, a day after it named former Goldman Sachs Group Inc. GS executive Harvey Schwartz as its new CEO. The private equity firm said its fourth-quarter net income dropped to $127.2 million, or 35 cents a share, from $647.6 million, or $1.77 a share, in the year-ago quarter. Fourth-quarter revenue dropped to $719.

CG beat its distributable earnings target, but missed Wall Street’s revenue mark as its fourth-quarter profit fell sharply, the private equity firm said Tuesday, a day after it named former Goldman Sachs Group Inc. GS executive Harvey Schwartz as its new CEO. The private equity firm said its fourth-quarter net income dropped to $127.2 million, or 35 cents a share, from $647.6 million, or $1.77 a share, in the year-ago quarter. Fourth-quarter revenue dropped to $719.

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