Blackstone Inc. (BX) on Thursday reported fourth-quarter earnings of $1.4 billion.
On a per-share basis, the New York-based company said it had net income of $1.92. Earnings, adjusted for non-recurring gains, came to $1.71 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.
The investment manager posted revenue of $5.76 billion in the period. Its adjusted revenue was $4.46 billion, also beating Street forecasts. Four analysts surveyed by Zacks expected $3.28 billion.
For the year, the company reported profit of $5.86 billion, or $8.13 per share. Revenue was reported as $11.66 billion.
Blackstone Inc. shares have dropped 14% since the beginning of the year.
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