Wall Street

KKR slumps to second quarter loss as deals slowdown hits

Published by
City AM

By Charlie Conchie Investment giant KKR slumped to a loss in the second quarter of the year after market volatility sparked a slowdown in dealmaking and a fall in the return on its investments. The New York firm posted a net loss of $827.9m, down from net profit of $1.28bn in the same quarter a year earlier, as revenue dropped to $330m from $3.14bn over the same period last year. Post-tax distributable earnings – which represents the cash used to pay dividends to shareholders – fell nine per cent year-on-year to $840m in the second quarter, down from $925.5m a year earlier. Earnings per share …

Read More

Share this Story
Load More Related Articles
Load More In Wall Street