Ares Management: 2Q Earnings Snapshot
Posted Aug 5, 2020 10:42:07 AM.
Last Updated Aug 5, 2020 10:46:06 AM.
This article is more than 5 years old.
LOS ANGELES (AP) _ Ares Management LP (ARES) on Wednesday reported second-quarter net income of $56.4 million.
The Los Angeles-based company said it had profit of 35 cents per share. Earnings, adjusted for non-recurring costs, were 39 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The private equity firm posted revenue of $602.8 million in the period. Its adjusted revenue was $326.4 million.
Ares Management shares have risen 12% since the beginning of the year. The stock has risen 50% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARES at https://www.zacks.com/ap/ARES
The Associated Press
