Hamilton Lane Inc (HLNE), a leading private markets asset management firm, saw its stock price soar 5.55% in Tuesday's intraday trading session following the company's impressive fiscal third-quarter results released before the market open.
The company reported strong financial performance for the quarter ended December 31, 2024, with earnings per share of $1.25 on an adjusted basis, surpassing analysts' expectations of $1.10. Revenue also came in higher than anticipated, rising 34.3% year-over-year to $168.26 million, beating the consensus estimate of $157.95 million.
Hamilton Lane's robust results were driven by solid growth in its assets under management (AUM) and fee-earning AUM. The company's total AUM reached $134.7 billion, an increase of $14.8 billion year-over-year, while fee-earning AUM climbed by $7.9 billion to $71 billion over the same period. Additionally, the unrealized carried interest balance stood at approximately $1.3 billion, up 15% from the prior year.