KKR & Co. Inc.KKR
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KKR reported Q2 earnings beat with record fee-related earnings and revenue above consensus.
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KKR & Co. Inc.KKR shares rose after the alternative asset manager reported second-quarter results that exceeded expectations on record fee-related earnings. Non-GAAP EPS came in at $1.63, a 40% year-over-year increase and $0.20 above the consensus estimate, while revenue grew to $5.73 billion from $5.09 billion a year ago. Fee-related earnings surged to $1.21 billion from $886.75 million, surpassing the average analyst estimate of $1.07 billion, boosted by management fees and fee-related performance revenues. Insurance operating earnings rose to $288.20 million from $277.93 million, beating the consensus of $263.80 million, though strategic holdings operating earnings of $37.04 million fell short of the $53.19 million consensus. Assets under management climbed 16% year-over-year to $796 billion, with fee-paying AUM up 15% to $638 billion, slightly above expectations of $636.5 billion.
KKR & Co. Inc.KKR reported Q2 earnings beat with record fee-related earnings and revenue above consensus.