Carlyle Group (CG) has reported 888.10 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $83 million, or $0.90 a share in the quarter, compared with $8.40 million, or $0.01 a share for the same period last year. Revenue during the quarter surged 131.86 percent to $1,120.10 million from $483.10 million in the previous year period. Total expenses were 8.37 percent of quarterly revenues, down from 17.04 percent for the same period last year. This has led to an improvement of 866 basis points in operating margin to 91.63 percent.
However, the adjusted EBITDA for the quarter stood at $77.90 million compared with $151.10 million in the prior year period. At the same time, adjusted EBITDA margin contracted 2432 basis points in the quarter to 6.95 percent from 31.28 percent in the last year period.
Carlyle Co-chief executive officer David M. Rubenstein said, "Carlyle produced its second strongest value creation quarter since going public five years ago. Our portfolio performed well in virtually every sector and every region, appreciating by 6% and leading to a 34% increase in our net accrued carry in the first quarter. The long term strength of the underlying portfolio supports our goal to raise $100 billion in new capital by the end of 2019."
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