Private equity firm KKR & Co LP said on Thursday that its second-quarter earnings more than tripled year-on-year, close to most analysts' expectations, as a string of lucrative asset sales led to its highest dividend on record.Like its alternative asset manager peers, KKR has taken advantage of the rally in equity and debt markets to sell some of its companies at high valuations. In April, it also acquired a specialty finance company it previously managed after agreeing to pay out that company's income as dividends.KKR said post-tax economic net income (ENI) per adjusted unit was 62 cents in the second quarter, up from 18 cents a year ago but lower than the 65 cents average forecast by analysts in a Thomson Reuters poll."The miss (in expectations) was primarily driven by lower investment income," Sandler O'Neill & Partners LP analyst Michael Kim wrote in a research note, referring to income that KKR generates by investing its own money rather than that of its funds.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.16% or $-0.06/share to $36.88. In the past year, the shares have traded as low as $32.87 and as high as $38.73. On average, 758827 shares of TRI exchange hands on a given day and today's volume is recorded at 226660.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.01% or $-0.005/share to $39.62. In the past year, the shares have traded as low as $34.52 and as high as $42.10. On average, 587079 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 160024.
Source
