TORONTO (AP) — TORONTO (AP) — Brookfield Asset Management Ltd. (BAM) on Wednesday reported first-quarter profit of $441 million.
On a per-share basis, the Toronto-based company said it had net income of 27 cents. Earnings, adjusted for non-recurring costs, came to 34 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The investment manager posted revenue of $884 million in the period.
Brookfield shares have fallen 1% since the beginning of the year. The stock has climbed 21% in the last 12 months.
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