DigitalBridge Reports Q4 Earnings

BOCA RATON, Fla. (AP) — DigitalBridge Group, Inc. (DBRG) announced its financial results for the fourth quarter on Thursday, revealing a loss of $5.1 million.

The company, based in Boca Raton, Florida, reported a loss of 12 cents per share. After adjusting for non-recurring items and stock option expenses, the earnings stood at 11 cents per share.

These results exceeded the expectations of Wall Street analysts. According to a survey conducted by Zacks Investment Research, the average prediction from five analysts anticipated earnings of only 8 cents per share.

During this quarter, DigitalBridge generated revenue totaling $101.6 million, which also surpassed the forecasts from Wall Street. Analysts surveyed by Zacks had estimated revenue of $96.7 million for the period.

When looking at the entire year, DigitalBridge reported a larger loss of $97.6 million, equating to $1.03 per share. Additionally, the company’s revenue for the year was recorded at $228.1 million.

These results highlight the challenges DigitalBridge is facing but demonstrate its ability to outperform analyst expectations in terms of revenue and adjusted earnings.

Investors and analysts will be watching how the company adapts moving forward, especially considering the competitive landscape of asset management in the finance industry.

DigitalBridge, Earnings, Finance