NEW YORK, April 27 (Reuters) - Private equity firm KKR & Co LP posted better-than-expected earnings on Thursday as a jump in income on the back of higher investment returns lifted the bottom line.
New York-based KKR said it had earned economic net income of $549.9 million after taxes in the first quarter, compared to a loss of $553 million a year ago. That translated to 65 cents a share. Analysts had forecast earnings of 50 cents a share, 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. (Reporting by Koh Gui Qing; Editing by Chizu Nomiyama)