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Brookfield (NASDAQ: BPY) 4Q18 Results: Beats Consensus, Announces a $500 Million Repurchase Program

Brookfield reported net income of $858 million ($0.51 per unit) versus $958 million ($0.17 per unit) in the year-ago quarter.

FFO was $416 million ($0.43 per unit), compared with $286 million ($0.41 per unit) in the year-ago quarter.

The increases in FFO in the quarter and year were due to the following factors: Higher investment in core retail and seasonally strong performance in the quarter, along with same-property income growth in the core office business. This strong operating performance more than offset the impact of a higher interest rate environment and negative currency effects.

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