KKR Posts Higher 3Q Revenue, Increases Assets Under Management

Published: 2024-10-24 07:06:24 ET KKR

By Connor Hart

KKR increased its revenue and grew its assets under management in the third quarter.

The New York investment firm on Thursday posted net income of $654.6 million, or 69 cents a share, compared with $1.47 billion, or $1.64 a share, a year earlier.

Adjusted earnings were $1.38 a share, beating the $1.20 a share that analysts surveyed by FactSet expected.

KKR posted revenue of $4.79 billion, up 45% from the same quarter last year. Assets under management increased 18%, to $624 billion. Wall Street expected assets under management of $623.4 billion.

Co-Chief Executive Officers Joseph Bae and Scott Nuttall said the recent quarter reflected a return to a more-normalized operating environment. "Activity levels across the firm remain high as we experience a continued acceleration across our key operating metrics and financial results," they said.

Write to Connor Hart at [email protected]

(END) Dow Jones Newswires

10-24-24 0705ET