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Asset Managers Face Mixed Q1 Results | Business and Finance News
Description
Asset management firms faced a rough first quarter, with revenues falling short of forecasts by 1.8%, dragging most stocks down 9%. Artisan Partners edged ahead with a 9% revenue jump, but missed EPS—its stock fell 9%. TPG stunned with a 20% revenue surge, beating both revenue and earnings, yet still saw an 8% dip. Carlyle Group tanked, with a 28% revenue plunge and a 13% miss, leading to a brutal 16% stock drop. Amid rising passive investing and tech costs, the industry braces for a tougher, evolving landscape.
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