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Oaktree Capital Group LL (OAK) Tops Q3 EPS Estimates

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Oaktree Capital Group LLC (NYSE:OAK) released its third quarter earnings this morning before the market opened on Wall Street. The company showed earnings per share of $1.16 for the three month period ending September. Revenue in the period came in at $361.6 million. On Thursday market shares in the company were flat in anticipation of the release of this report.

Oaktree Logo

In the run up to the release of today’s numbers 7 analysts studying Oaktree Capital Group LLC (NYSE:OAK), who were surveyed by Bloomberg, were looking for earnings per share of $1.02 per share from the company. Revenue for the three months was expected to come in at $388 million.

Oaktree earnings

In the same three months of 2012 Oaktree Capital Group LLC (NYSE:OAK) managed to earn 88 cents per share on revenue totaling $305 million. The fund manager is growing at a feverish pace, though this morning’s earnings report shows some weaknesses are present in the company’s business.

The third quarter saw most of the big financial companies post worse than expected results because of the softness of the markets in those three months. Economic net income for Oaktree fell to $157.4 million in the period from $368.0 million in the same three months of last year. Economic Net Income is used to compare alternative investment managers to each other.

Oaktree perfromance

Assets Under Management at Oaktree Capital Group LLC (NYSE:OAK) hit $79.8 billion at the end of the third quarter according to this morning’s earnings report.

In the report the company’s CEO Howard Marks said“The third quarter was another period of strong investment returns across our platform of diversified alternative investment strategies. This performance continues to drive fundraising success. Notably in the third quarter, gross capital raised was $3.7 billion, bringing the total for the first nine months of this year to $8.4 billion, including $3.0 billion for strategies that did not exist two years ago.”

Oaktree Capital Group LLC (NYSE:OAK) executives will host an earnings call to discuss these earnings at 11 AM EDT. Investors will want to hear the company’s plans for expanding revenue more quickly, and about the company’s investment outlook for the year ahead.

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