Ares Management: Q2 Earnings Snapshot

LOS ANGELES (AP) — LOS ANGELES (AP) — Ares Management LP (ARES) on Friday reported second-quarter net income of $94.9 million.

The Los Angeles-based company said it had net income of 43 cents per share. Earnings, adjusted for non-recurring costs, were 99 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.

The private equity firm posted revenue of $788.7 million in the period. Its adjusted revenue was $786.5 million, which missed Street forecasts. Four analysts surveyed by Zacks expected $860.1 million.

Ares Management shares have risen 25% since the beginning of the year. The stock has risen 46% 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