KKR Profit Triples to Record, Topping Wall Street Estimates
· 2 sources
Bloomberg and Reuters report KKR's profit tripled and hit a record, helped by asset sales and higher fees, beating Wall Street estimates.
What happened
KKR reported a sharp rise in profit, with Bloomberg saying earnings tripled and beat Wall Street estimates. Reuters reports the profit reached a record.
According to Reuters, asset sales and surging fees drove the result. Bloomberg refers to KKR as a 'mini Berkshire' in its headline, a label that links the firm to Berkshire Hathaway.
The sources provided do not give further detail on the figures behind the results.
Context
KKR is a major global investment firm that earns income from fees and from selling assets it holds.
Why it matters
The result may draw attention to how asset sales and fee income contribute to the earnings of large investment firms, and to the comparison with Berkshire Hathaway.
Stocks in this story
Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.
$570.89−0.25% vs. previous close ($572.33) · November 6
Fair value (ATLAS)
$513.37Fair range: $462.03 to $564.71The price ($570.89) is 11.2% above that figure.
Chance of a rise in 1 month
53%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $554.33 and $592.95; 9 in 10, between $522.20 and $629.43.
$856,612.00−0.01% vs. previous close ($856,700.01) · November 6
Fair value (ATLAS)
$770,053.82Fair range: $693,048.43 to $847,059.20The price ($856,700.00) is 11.3% above that figure.
Chance of a rise in 1 month
53%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $830,678.00 and $890,841.50; 9 in 10, between $780,751.53 and $947,807.86.
Fair value, probabilities and earnings for every stock. Free account, no card. Information, not advice.
Information, not advice. This content is informational and is not an investment recommendation or an offer to buy or sell securities. ATLAS estimates come from statistical models using public data, can be wrong, and past performance does not guarantee future results. Disclaimer
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