NEW YORK (AP) — NEW YORK (AP) — Blackstone Inc. (BX) on Thursday reported fourth-quarter net income of $151.8 million.
The New York-based company said it had net income of 20 cents per share. Earnings, adjusted for non-recurring costs, were $1.11 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The investment manager posted revenue of $1.29 billion in the period. Its adjusted revenue was $2.54 billion, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $2.48 billion.
For the year, the company reported profit of $1.39 billion, or $1.84 per share. Revenue was reported as $9.69 billion.
Blackstone Inc. shares have declined roughly 8% 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