Brookfield profit rises as distributable earnings reach 73 cents a share
Third-quarter shareholder profit reached US$1.31 billion. Distributable earnings are a separate, non-IFRS measure.
Brookfield Corporation reported third-quarter net income attributable to shareholders of US$1.305 billion, up from US$219 million a year earlier. Diluted earnings rose to 54 cents a share from 8 cents, while revenue increased to US$20.69 billion from US$18.92 billion.
Distributable earnings were US$1.718 billion, or 73 cents a share, compared with US$1.487 billion, or 63 cents a share, a year earlier. That is a non-IFRS measure used by Brookfield to describe earnings available for distribution or reinvestment, not a substitute for its reported net income.
Distributable earnings before realizations were US$1.496 billion, or 64 cents a share, versus US$1.333 billion, or 56 cents, in the prior-year quarter.
Brookfield said its asset-management business raised US$25 billion during the quarter.
