KKR & Co. L.P. (KKR) swung to a net profit for the quarter ended Mar. 31, 2017. The company has made a net profit of $267.68 million, or $ 0.52 a share in the quarter, against a net loss of $329.94 million, or $0.73 a share in the last year period.
Revenue during the quarter surged 339.76 percent to $715.95 million from $162.80 million in the previous year period. Operating margin for the quarter period stood at positive 24.57 percent as compared to a negative 89.38 percent for the previous year period.
Operating income for the quarter was $175.94 million, compared with an operating loss of $145.52 million in the previous year period.
"We had a good start to the year. Strong investment performance together with our integrated model - the combination of our investment funds, balance sheet and capital markets capabilities - led to significant Economic Net Income and Distributable Earnings," said Henry R. Kravis and George R. Roberts, co-chairmen and co-chief executive officers of KKR.
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