NEW YORK (AP) — NEW YORK (AP) — Blackstone Inc. (BX) on Thursday reported first-quarter earnings of $614.9 million.
On a per-share basis, the New York-based company said it had net income of 80 cents. Earnings, adjusted for non-recurring costs, were $1.09 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The investment manager posted revenue of $3.29 billion in the period. Its adjusted revenue was $2.76 billion, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $2.62 billion.
Blackstone Inc. shares have decreased 25% since the beginning of the year.
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