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TORONTO (AP) — TORONTO (AP) — Brookfield Asset Management Ltd. (BAM) on Monday reported third-quarter profit of $544 million.
The Toronto-based company said it had profit of 33 cents per share. Earnings, adjusted for non-recurring costs, were 38 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The investment manager posted revenue of $1.12 billion in the period. Its adjusted revenue was $1.21 billion, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $1.19 billion.
Brookfield shares have increased 32% since the beginning of the year. The stock has risen 71% 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