Blackstone Group: 3Q Earnings Snapshot
NEW YORK (AP) _ Blackstone Group L.P. (BX) on Wednesday reported third-quarter earnings of $779.4 million.
The New York-based company said it had net income of $1.15 per share. Earnings, adjusted for non-recurring gains, were 58 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The investment manager posted revenue of $1.74 billion in the period. Its adjusted revenue was $1.37 billion, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.35 billion.
Blackstone Group shares have climbed 65% since the beginning of the year.