DigitalBridge rises after posting Q4 profit vs year-ago loss

Digitalbridge

20/02/2024 12:49

** Shares of alternative asset manager DigitalBridge Group
 DBRG.N  rise 3.9% to $20.91 premarket
    ** Co posts Q4 net income attributable to common
stakeholders of 58 cents/shr vs loss of 12 cents/shr last year
    ** Q4 consolidated revenue surged 29% to $350.30 mln, driven
by strong performance in its investment management business
    ** Q4 fee revenue jumped 67% to $74 mln, while principal
investment income more than tripled to $93.50 mln
    ** We had a strong finish to 2023 with the best quarter in
investment management fees and fee-related earnings since we
assumed leadership at DigitalBridge - CEO Marc Ganzi
    ** Q4 assets under management jumped 52% to $80.10 bln
compared to last year
    ** DBRF forecasts 2024 fee revenue of $335 mln to $360 mln
    ** Stock gained 60.3% in 2023

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