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Brookfield Asset Management Inc. Earnings Decline 51% In Q3

Brookfield Asset Management Inc. (BAM) announced a profit for third quarter that dropped from last year.

The company said its profit dropped to $992 million, or $0.20 per share. This was down from $2.02 billion, or $1.03 per share, in last year's third quarter.

Analysts had expected the company to earn $1.09 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 95.2% to $12.28 billion. This was up from $6.29 billion last year.

Brookfield Asset Management Inc. earnings at a glance:

-Earnings (Q3): $992 Mln. vs. $2.02 Bln. last year.
-Earnings Decline (Y-o-Y): -50.9%
-EPS (Q3): $0.20 vs. $1.03 last year.
-EPS Decline (Y-o-Y): -80.6%
-Analysts Estimate: $1.09
-Revenue (Q3): $12.28 Bln vs. $6.29 Bln last year.
-Revenue Change (Y-o-Y): 95.2%

by RTT Staff Writer

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