Blackstone Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Blackstone Inc. (BX) released a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $847.39 million, or $1.11 per share. This compares with $85.81 million, or $0.11 per share, in last year's first quarter.

Excluding items, Blackstone Inc. reported adjusted earnings of $1.27 billion or $0.98 per share for the period.

Analysts on average had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 167.4% to $3.69 billion from $1.38 billion last year.

Blackstone Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $847.39 Mln. vs. $85.81 Mln. last year. -EPS (Q1): $1.11 vs. $0.11 last year. -Revenue (Q1): $3.69 Bln vs. $1.38 Bln last year.