Power Corporation of Canada (TSX: POW) today released its reported earnings results for the three and nine months ended September 30, 2022.
Power Corporation of Canada reported a net decrease of $424 million in fair value of its investments, including its investments held through Power Financial, in Portage I, Portage II, Portage III, KOHO Financial Inc. and Wealthsimple in the nine-month period ended September 30, 2022, compared with an increase of $606 million in fair value in the corresponding period in 2021.
Power Corporation of Canada did not disclose the aggregate fair value in Portage I, Portage II, Portage III, KOHO Financial Inc. and Wealthsimple as of September 30,2022.
Power Corporation of Canada also reported reversal of carried interest payable of $13 million and $25 million in Q1 and Q2 of 2022 respectively, mainly due to decreases in the fair value of Wealthsimple and investments held by Portage II in the period.
photo credit: Power Corporation of Canada