Private equity firm KKR & Co LP (KKR.N) reported higher-than-expected earnings on Tuesday, benefiting from a steady rise in oil prices and stronger U.S. equity and credit markets.
New York-based KKR said it had earned economic net income of 23 cents a share in the second quarter, down from 88 cents a year earlier but well above analysts’ forecasts of 5 cents, according to Thomson Reuters I/B/E/S.
Economic net income is a key metric for U.S. private equity firms that accounts for unrealized gains or losses in investments.
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