Blackstone Inc.: Q2 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Blackstone Inc. (BX) on Thursday reported second-quarter earnings of $444.4 million.

The New York-based company said it had profit of 58 cents per share. Earnings, adjusted for non-recurring costs, came to 96 cents per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.

The investment manager posted revenue of $2.8 billion in the period. Its adjusted revenue was $2.52 billion, which beat Street forecasts. Seven analysts surveyed by Zacks expected $2.51 billion.

Blackstone Inc. shares have climbed 3% 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