Brookfield Asset Management Sees Profit Drop in First Quarter [Yahoo! Finance Canada]
Brookfield Corporation Class A Limited Voting Shares (BN)
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Source: Yahoo! Finance Canada
(Bloomberg) -- Brookfield Asset Management reported a decline in first-quarter profits but notched growth in its fee-related earnings. Most Read from Bloomberg Distributable earnings were $547 million, or 34 cents a share, the Toronto-based company said Wednesday in a statement. That's in line with the average estimate of analysts in a Bloomberg survey and down from $563 million in the same three months a year earlier. ADVERTISEMENT Brookfield was spun out from parent Brookfield Corp. in late 2022 to appeal to shareholders looking to invest in its asset management business without being exposed to its real estate and other so-called real assets. The firm said it raised $20 billion of capital in the first quarter, including around $10 billion across more than a dozen credit strategies. The firm ended the quarter with $459 billion of fee-bearing assets, a slight increase from $457 billion at year-end and up 6% over the past year. It aims to reach $1 trillion by 2028. --With
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Earnings
- 5/9/24 - Miss
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Sec Filings
- 5/22/24 - Form F-10
- 5/22/24 - Form F-X
- 5/22/24 - Form F-10
- BN's page on the SEC website