Carlyle Reports Lower Profit on Weakness in Hedge Funds

NYT – The Carlyle Group reported lower third-quarter profit on Wednesday, weighed down by weakness in its hedge funds and certain other investments.

Carlyle said its economic net income before taxes – a measure of profit that includes unrealized investment performance – declined 15 percent, to $166 million, from the third quarter of 2013. After taxes, profit was 55 cents a share, narrowly exceeding the expectation of 54 cents among analysts surveyed by Thomson Reuters.

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