Brookfield Corp. reports US$2.13B in Q2 distributable earnings, up from a year ago

By The Canadian Press on August 8, 2024.

TORONTO – Brookfield Corp. reported distributable earnings of US$2.13 billion in its latest quarter, up from US$1.19 billion in the same quarter last year.

The investment firm, which keeps its books in U.S. dollars, says the result amounted to US$1.35 per share for the quarter ended June 30, up from 75 cents per share a year earlier.

Brookfield president Nick Goodman says the company achieved strong financial performance in the second quarter, with cash flows across its asset management, wealth solutions and operating businesses continuing to grow.

Goodman says the momentum is expected to build over the balance of this year and beyond.

Brookfield says its net income attributable to shareholders for its second quarter amounted to US$43 million, down from $81 million a year earlier.

Assets under management within its asset management business grew to about US$1 trillion.

This report by The Canadian Press was first published Aug. 8, 2024.

Companies in this story: (TSX:BN)

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