Icahn Enterprises share price rises despite widening losses and falling revenues for the full year ended December 2015

 
Hayley Kirton
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The New York Times 2015 DealBook Conference
Carl Icahn is founder of the conglomerate company (Source: Getty)

Share price in Icahn Enterprises rose today despite the company revealing that its revenues had fallen and its losses widen.

The conglomerate company announced net losses attributable of $1.2bn (£860m) for the year ended December 2015, down from a loss of $373m the year before.

Meanwhile, the company, which has investments across numerous sectors such as rail, mining and real estate, also reported a fall in revenue to $15.3bn, down from $19.2bn in 2014.

The company also saw revenues and losses tumble throughout its fourth quarter of 2015, with net losses of $1.1bn and revenues of $2.6bn. By comparison, in 2014, the company had net losses of $478m and revenues of $3.4bn.

However, share price in the company rose after the announcement, trading up 3.8 per cent at $59.58 just after 3pm London time.

The company has seen its share price drop sharply over the last 12 months, and it is now trading roughly a third lower than it was at the same point last year.

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