Brookfield Corp (BN) shares plummeted 5.04% in intraday trading on Thursday, despite the company reporting better-than-expected third-quarter earnings. The sharp decline comes as investors appear to be focusing on the company's revenue drop and potential concerns about its future growth prospects.

The Canadian alternative asset manager reported Q3 distributable earnings of $0.63 per share, surpassing analysts' expectations of $0.57 and showing an increase from $0.56 in the same period last year. However, Brookfield's revenue for the quarter fell to $18.92 billion, down 8.3% from $20.62 billion in the previous year.

While Brookfield's asset management business showed strength with record fee-related earnings of $754 million, up 17% year-over-year, and the highest fundraising quarter in three years with $30 billion in inflows, the market's negative reaction suggests investors may be concerned about the overall revenue decline and its implications for future growth. The stock's significant drop highlights the challenges faced by alternative asset managers in the current economic environment, despite their efforts to diversify income streams and capitalize on market opportunities.