TORONTO - Brookfield Asset Management Inc. (TSX:BAM.A) had $872 million of net income in the third quarter, of which $334 million is attributable to common shareholders.
The diversified Toronto-based company said its earnings per share rose to 48 cents from 36 cents a year earlier when Brookfield's revenue totalled $4.7 billion.
A year earlier, Brookfield had $4.4 billion of revenue and net income was $716 million, including $253 million or 36 cents per share attributable to shareholders.
Funds from operations totalled $282 million or 40 cents per share, compared with $241 million or 35 cents a share in the third quarter of 2011.
"Acquisitions made in the last three years are beginning to generate significant cash flows," said Bruce Flatt, Brookfield's chief executive officer.
Brookfield has more than $150 billion of assets under management. It invests primarily in property, renewable power, infrastructure and private equity.
Brookfield Real Estate Services Inc. (TSX:BRE), one of its publicly traded subsidiaries, announced separately that it had a $2.5 million loss, or 26 cents per share, during the quarter.
That compared with a profit of $8.1 million or 85 cents per share in the third quarter of 2011.
Brookfield Real Estate Services operates several brokerage brands, including Royal LePage, Via Capitale and Johnston & Daniel. As of the end of September, it had 15,238 Realtors in its network.
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