KKR Keeps Moving Forward
Investors came into 2019 fearing for the future of the stock market, but the first half of the year was a breath of fresh air for the markets. For private equity specialist KKR (NYSE: KKR), that's been great news, as its investors have regained confidence in the future of the financial markets and have felt more comfortable putting their hard-earned money to work with the asset manager.
Coming into its second-quarter financial report, KKR investors hoped to see continued progress as market conditions improved. Some of KKR's results were mixed, but the future still looks bright overall for the private equity company.
KKR's second-quarter results continued its rebound from a tough end to 2018, although not all of its numbers showed growth. Segment revenue, which includes fees, performance income, and investment income, came in at $907.5 million, down about 2% from year-ago levels. After-tax distributable income of $327.3 million was down a sharper 19% from the second quarter of 2018, but distributable earnings of $0.39 per share were better than the $0.34 per share consensus forecast among investors.
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