NEW YORK (AP) _ Blackstone Inc. (BX) on Thursday reported fourth-quarter net income of $557.9 million.

On a per-share basis, the New York-based company said it had net income of 75 cents. Earnings, adjusted for non-recurring costs, came to $1.07 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.

The investment manager posted revenue of $1.7 billion in the period. Its adjusted revenue was $2.34 billion, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $2.62 billion.

For the year, the company reported profit of $1.75 billion, or $2.36 per share. Revenue was reported as $12.59 billion.

Blackstone Inc. shares have increased 20% since the beginning of the year.

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

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