TORONTO (AP) — TORONTO (AP) — Brookfield Asset Management Ltd. (BAM) on Wednesday reported fourth-quarter profit of $531 million.
On a per-share basis, the Toronto-based company said it had profit of 23 cents. Earnings, adjusted for non-recurring costs, were 36 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The investment manager posted revenue of $1.13 billion in the period.
For the year, the company reported profit of $2.14 billion, or $1.12 per share. Revenue was reported as $4.06 billion.
Brookfield shares have declined 1% since the beginning of the year. The stock has risen 18% 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