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Blackstone Inc.: Q4 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Blackstone Inc. (BX) on Thursday reported fourth-quarter profit of $703.9 million.
The New York-based company said it had net income of 92 cents per share. Earnings, adjusted for non-recurring costs, came to $1.69 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.
The investment manager posted revenue of $3.08 billion in the period. Its adjusted revenue was $4.15 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $3.79 billion.
For the year, the company reported profit of $2.78 billion, or $3.62 per share. Revenue was reported as $11.65 billion.
Blackstone Inc. shares have increased 7.5% 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
