NEW YORK (AP) — NEW YORK (AP) — Brookfield Asset Management Ltd. (BAM) on Wednesday reported second-quarter earnings of $904 million.
The New York-based company said it had profit of 56 cents per share. Earnings, adjusted for non-recurring gains, came to 44 cents per share.
The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 44 cents per share.
The investment manager posted revenue of $1.75 billion in the period. Its adjusted revenue was $1.49 billion, exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.47 billion.
Brookfield shares have fallen nearly 1% since the beginning of the year. The stock has fallen 15% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BAM at https://www.zacks.com/ap/BAM
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