DigitalBridge jumps after Q4 profit beats expectations

Digitalbridge

20/02/2025 19:00

** Shares of alternative asset manager DigitalBridge
 DBRG.N  jump as much as 14.1%; last up 11.8% at $12.02
    ** DBRG posts fourth-quarter distributable earnings of 11
cents per share, beating Wall Street expectations of 7 cents per
share, according to estimates compiled by LSEG
    ** Fourth-quarter fee-related earnings jumped 34% to $35.4
million, driven by higher fee revenue
    ** Company delivered record fundraising of $9 billion in
2024, including $4.8 billion in the fourth quarter, largely
driven by its co-invest fund to fuel AI and data center growth
    ** DBRG invests in digital infrastructure, including cell
towers, data centers, fiber and small cells
    ** Assets under management were $96 billion as of 2024 end,
compared with $80 billion a year earlier
    ** As of last close, DBRG stock down 4.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))