Brookfield Q2 Profit, Revenue Rise
(RTTNews) - Brookfield Corporation (BN) on Thursday reported higher second-quarter profit, supported mainly by increased revenues.
Net income attributable to Brookfield shareholders rose to $364 million or $0.14 per share from $272 million or $0.10 per share a year ago.
Distributable earnings increased to $1.548 billion or $0.66 per share from $1.385 billion or $0.59 per share a year ago.
Distributable earnings before realizations rose to $1.427 billion or $0.61 per share from $1.253 billion or $0.53 per share.
Fee-related earnings increased 20% year over year, driven by a 19% rise in fee-bearing capital to $672 billion at quarter-end.
Equity-accounted income rose to $723 million from $467 million, while other income and gains increased to $375 million from $30 million.
Revenues grew 7.3% to $19.406 billion from $18.083 billion in the previous year.
Brookfield shares were down more than 1% in pre-market trading after closing at $44.69 on Wednesday.
