Brookfield Asset Management Q3 Net Profit Rises, Pre-tax Profit Down

(RTTNews) - Brookfield Asset Management Ltd. (BAM, BAM.TO) reported Monday that its third-quarter net income attributable to the company increased to $494 million from last year's $395 million.

Earnings per share were $0.30, compared to $0.24 a year ago.

Brookfield Asset Management's distributable earnings were $568 million for the quarter, up from last year's $524 million. Distributable earnings per share were $0.35, up from $0.32 last year.

Analysts on average expect the company to report earnings of $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Fee-related earnings were $565 million in the quarter, higher than $523 million a year earlier.

Income before taxes, meanwhile, declined to $562 million from last year's $835 million.

Total revenues grew to $893 million from last year's $831 million.

Further, the board of directors declared a quarterly dividend of $0.32 per share, payable on December 29, to shareholders of record as of the close of business on November 30.

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