(RTTNews) - GCM Grosvenor Inc. (GCMG), an alternative asset management solutions provider, Monday announced a sharp increase in fourth quarter earnings compared to the prior year. For the full year, earnings were up 46 percent, compared to the prior year.
Currently, shares are gaining 3.10 percent at $13.98.
The quarterly earnings attributable to the company was $7.62 million, up 134 percent to $3.26 million last year. On a per share basis, earnings were $0.09 per share. Adjusted net income was $52.7 million or $0.27 per share.
On average, analysts were looking for $0.27 per share. Analysts estimates usually exclude special items.
Revenue for the quarter increased 42 percent to $165.26 million from $116.56 million a year ago.
The company said its board has approved a $0.11 per share dividend payable on March 17, 2025 to shareholders on record March 3, 2025.
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