Blackstone Inc.: Q3 Earnings Snapshot

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NEW YORK (AP) — NEW YORK (AP) — Blackstone Inc. (BX) on Thursday reported third-quarter profit of $780.8 million.

On a per-share basis, the New York-based company said it had net income of $1.02. Earnings, adjusted for non-recurring gains, were $1.01 per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The investment manager posted revenue of $3.66 billion in the period. Its adjusted revenue was $2.43 billion, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.37 billion.

Blackstone Inc. shares have increased 22% 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