Brookfield Corp. Q3 Distributable Earnings Rise, Stock Gains In Pre-market

(RTTNews) - Brookfield Corporation (BN), Thursday reported distributable earnings of $1.325 billion or $0.84 per share for the third quarter, higher than $1.150 billion or $0.73 per share last year. The investment management firm's shares were up more than 4 percent in pre-market.

Distributable earnings before realizations were $1.259 billion or $0.80 per share, up from $1.056 billion or $0.67 per share a year ago.

Net income was $64 million or $0.01 per share for the third quarter, lower than $230 million or $0.12 per share in the same quarter a year ago.

Revenue for the quarter declined to $20.623 billion from $24.441 billion in the previous year.

The company's Board has declared a quarterly dividend of $0.08 per share, payable on December 31, to shareholders of record on December 16.

Brookfield stock had closed at $57.61, down 0.52 percent on Wednesday. It has traded in the range of $33.61 - $59.23 in the last 1 year.