Icahn Enterprises 1Q net income surges

Icahn Enterprises says net income rose more than fivefold in the 1st quarter

Associated Press

NEW YORK (AP) -- Icahn Enterprises LP, the investing vehicle for billionaire Carl Icahn, said Friday that its net income climbed in the first quarter.

Earnings rose to $277 million, or $2.50 per unit, from $49 million, or 48 cents per unit, a year ago. Revenue nearly doubled, rising to $5.32 billion from $2.68 billion.

Icahn Enterprises owns stakes in a variety of companies; including computer maker Dell Inc., drugmaker Forest Laboratories Inc., oil rig owner Transocean Ltd., dietary supplement maker Herbalife Ltd., oil and gas producer Chesapeake Energy Corp. and Netflix Inc.

Shares of Icahn Enterprises rose 30 cents to $74.69 in afternoon trading as the broader market moved higher.

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