Ares Management LPAres reported revenues up 25.6% year on year, in line with expectations but with a narrow beat on AUM estimates, and its stock is up 15.6%.
Asset management stocks delivered a very strong second quarter, with the five companies tracked by this analysis beating revenue consensus estimates by 8.4% on average. Ares reported revenues of $1.28 billion, up 25.6% year on year, in line with analyst expectations but with a narrow beat on AUM estimates, and its stock is up 15.6% since reporting to $143.45. Carlyle posted revenues of $1.11 billion, up 13% year on year, beating analyst expectations by 20.7%, though its stock is down 2.6% since reporting to $49.35. Artisan Partners reported revenues of $307.9 million, up 8.9% year on year, exceeding expectations by 2.3%, with the stock up 3.6% to $42.35. Blackstone reported revenues of $3.83 billion, up 23.8% year on year, beating expectations by 10.9%, and its stock is up 17.5% to $144.36. TPG reported revenues of $610.4 million, up 24.7% year on year, topping expectations by 7.8%, with the stock up 9.3% to $53.54.
Ares Management LPAres reported revenues up 25.6% year on year, in line with expectations but with a narrow beat on AUM estimates, and its stock is up 15.6%.
Artisan Partners Asset Management IncArtisan Partners reported revenues up 8.9% year on year, exceeding expectations by 2.3%, and its stock is up 3.6%.
Carlyle Group IncCarlyle posted revenues up 13% year on year, beating analyst expectations by 20.7%, though its stock is down 2.6%.
TPG IncTPG reported revenues up 24.7% year on year, topping expectations by 7.8%, and its stock is up 9.3%.
Blackstone Group IncBlackstone reported revenues up 23.8% year on year, beating expectations by 10.9%, and its stock is up 17.5%.