Brookfield Asset Management Q4 Revenue Edges Up

(RTTNews) - Brookfield Asset Management Ltd. (BAM) Wednesday reported net income attributable to Brookfield Asset Management of $374 million for the fourth quarter, lower than $504 million in the same quarter a year ago.

Net income, which includes net income attributable to Brookfield Asset Management as well as Brookfield Corporation, was $531 million or $0.23 per share compared with $613 million or $0.31 per share last year.

Distributable earnings were $586 million or $0.36 per share, up from $569 million or $0.35 per share last year.

Analysts, on average, polled by Thomson-Reuters were expecting earnings of $0.34 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $1.130 billion from $1.117 billion a year ago. The consensus estimate was for $1.1 billion.