Carlyle Earnings Dip 28% as Carried Interest Remains Elusive (2)

Carlyle Group Inc.’s first-quarter earnings tumbled as robust asset sales from its most recent buyout funds have yet to generate carried interest.

Distributable earnings fell 28% from a year earlier to $327 million, or 89 cents a share on an after-tax basis, the company said in a statement Thursday. That fell short of the 93-cent average estimate of analysts surveyed by Bloomberg.

Shares of Carlyle dropped as much as 3.54% to $49 Thursday in New York. The stock had declined 14% this year through Wednesday.

In a call after earnings, analysts pressed executives for more clarity on the outlook ...