Blackstone posts 4Q profit of $1.26 billion, result tops expectations

Industries Associated Press

The Blackstone Group LP (BX) on Thursday reported fourth-quarter earnings of $1.26 billion.

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The New York-based company said it had profit of 89 cents per share. Earnings, adjusted for non-recurring costs, came to $1.25 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.

The private equity firm posted revenue of $2.14 billion in the period.

Blackstone shares have climbed roughly 9 percent since the beginning of the year. The stock has risen 18 percent in the last 12 months.

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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 http://www.zacks.com/ap/BX

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Keywords: Blackstone, Earnings Report