Reuters logo
Och-Ziff reports lower profit but beats expectations
May 2, 2014 / 11:56 AM / 3 years ago

Och-Ziff reports lower profit but beats expectations

BOSTON, May 2 (Reuters) - Och-Ziff Capital Management Group reported a lower quarterly profit after its funds earned less, but there hedge fund firm still beat analysts’ expectations as billions of dollars in new money flowed into its portfolios.

First-quarter distributable earnings, excluding costs related to its November 2007 initial public offering, totaled $127.8 million, down from $136.9 million a year ago. The company earned 25 cents a share, less than last year’s 29 cents a share, but far more than the 16 cents Wall Street analysts had expected, according to Thomson Reuters I/B/E/S.

Och-Ziff also reported net income of $23.9 million, or 14 cents per share, compared to $30.0 million, 20 cents a share a year ago.

Reporting by Svea Herbst-Bayliss, Editing by Franklin Paul

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below