Brookfield Asset Management Inc: Reports $6.4 billion of Investment Gains in First Quarter on $13 billion of Asset Sales
(US$ millions, except per share amounts)
Three Months Ended
2
2,3
2. Excludes amounts attributable to non-controlling interests.
3. 2020 per share amounts have been adjusted to reflect BAM s three-for-two stock split effective April 1, 2020.
4. See Basis of Presentation on page 8 and a reconciliation of net income (loss) to FFO on page 5.
Funds from operations (FFO) in the quarter were a record $2.8 billion and net income was $3.8 billion. This was due to strong financial results in our operations, the ongoing growth in our asset management franchise and increased asset sale activity. Growth in FFO from our invested capital was strong despite a lagging impact of our property results from the global shutdowns, but as economies normalize our affected assets are all coming back.
Brookfield Asset Management: Q1 Earnings Snapshot
by The Associated Press
Last Updated May 13, 2021 at 8:58 am EDT
TORONTO (AP) Brookfield Asset Management Inc. (BAM) on Thursday reported first-quarter net income of $1.24 billion, after reporting a loss in the same period a year earlier.
The Toronto-based company said it had net income of 77 cents per share.
The asset management company posted revenue of $16.41 billion in the period.
Brookfield Asset Management shares have climbed slightly more than 8% since the beginning of the year. The stock has increased 38% in the last 12 months.
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
Brookfield Asset Management FFO Rises, Earnings Beat View
WASHINGTON (dpa-AFX) - Brookfield Asset Management Inc. (BAM) reported Funds from operations in the first quarter of $2.821 billion or $1.80 per share compared with $884 million or $0.55 per share last year, driven by strong operating performance, ongoing growth in asset management franchise, and increased asset sale activity.
The company s net income was $1.235 billion or $0.77 per share in the quarter compared with net loss of $293 million or $0.20 per share in the same quarter a year ago. Analysts surveyed by Thomson Reuters expected the company to report earnings of $0.59 per share for the quarter.
Revenue for the quarter, however, declined to $16.41 billion form $16.586 billion a year ago. The consensus estimate was for $10.89 billion.
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Brookfield Asset Management s Senior Managing Partner and CEO Bruce Flatt attends the company s AGM in Toronto, Wednesday May 6 , 2015. Brookfield Asset Management Inc. reported a profit in its latest quarter compared with a loss a year ago as its funds from operations hit a record high. THE CANADIAN PRESS/Chris Young
TORONTO – Brookfield Asset Management Inc. reported a profit in its latest quarter compared with a loss a year ago as its funds from operations hit a record high.