NEW YORK (AP) — NEW YORK (AP) — Blackstone Inc. (BX) on Thursday reported fourth-quarter earnings of $1.02 billion.
The New York-based company said it had net income of $1.30 per share. Earnings, adjusted for non-recurring costs, were $1.75 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The investment manager posted revenue of $4.36 billion in the period. Its adjusted revenue was $3.94 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $3.63 billion.
For the year, the company reported profit of $3.02 billion, or $3.87 per share. Revenue was reported as $13.08 billion.
Blackstone Inc. shares have declined almost 5% since the beginning of the year.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BX at https://www.zacks.com/ap/BX
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