Stock Track | DigitalBridge Shares Plunge After Disappointing Q3 Results, Guidance Cut

Stock Track11-02

Shares of DigitalBridge Group, Inc. (DBRG) plummeted by over 19% on Thursday after the digital infrastructure investment firm reported weaker-than-expected financial results for the third quarter of 2024 and lowered its full-year guidance.

For the quarter ended September 30, DigitalBridge reported distributable earnings of $0.06 per share, significantly missing the analysts' consensus estimate of $0.15. The company's total revenue of $76.1 million also fell short of expectations, coming in well below the forecasted $98.4 million.

While DigitalBridge provided an outlook for full-year 2024 fee revenue in the range of $305 million to $320 million, the company revised its previous guidance downward from the $335 million to $360 million range. The underwhelming results and guidance cut raised concerns among analysts about DigitalBridge's ability to maintain its growth momentum, with challenges in the digital infrastructure investment landscape and broader economic headwinds cited as contributing factors.

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(DBRG) plummeted by over 19% on Thursday after the digital infrastructure investment firm reported weaker-than-expected financial results for the third quarter of ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DBRG","symbol_name":"DigitalBridge Group, Inc.","start_time":0,"source_url":"","article_id":"1154601541","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1154601541","pubTimestamp":1730512344,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of DigitalBridge Group, Inc.  plummeted by over 19% on Thursday after the digital infrastructure investment firm reported weaker-than-expected financial results for the third quarter of 2024 and lowered its full-year guidance.For the quarter ended September 30, DigitalBridge reported distributable earnings of $0.06 per share, significantly missing the analysts' consensus estimate of $0.15. 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