Macquarie Profit Tops Estimates Despite Markets Business Dip
Macquarie Group Ltd. 's annual profit topped analysts' estimates as strong asset management fees offset continued weakness in its commodities and global markets businesses.
Net income rose 5% to A$3.72 billion ($2.4 billion) in the 12 months to March 31, according to a statement Friday from the Sydney-based investment bank. That compared with the A$3.69 billion average estimate of analysts surveyed by Bloomberg.
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