Fortress Posts Higher-Than-Expected 3Q Earnings

Private equity and hedge fund firm Fortress Investment Group reported higher-than-expected earnings Friday, Reuters reported. Revenue in the third quarter was $162.2 million, above analysts' average estimate of $144.7 million. New York-based Fortress said pretax distributable income rose to $78 million, or 15 cents per share, from $51 million, or 11 cents a share, a year earlier, Reuters reported.

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