Oaktree Capital Group (NYSE:OAK) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Oaktree Capital Group Earnings Cheat Sheet
Revenue: Rose 1500.76% to $593.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Oaktree Capital Group reported adjusted EPS income of $1.95 per share. By that measure, the company beat the mean analyst estimate of $1.53. It beat the average revenue estimate of $518.26 million.
Quoting Management: Howard Marks, Chairman, said, “As we mark our first anniversary of being public, Oaktree’s performance and prospects have never been better. The first quarter’s records for adjusted net income, distributable earnings and the unitholder distribution reflect the strong cash generating capacity of our business. Plus, the substantial incentives created by the quarter’s strong fund returns bode well for our future cash flow.”
Key Stats (on next page)…