NEW YORK (AP) _ Blackstone Group L.P. (BX) on Thursday reported a first-quarter loss of $1.07 billion, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of $1.58. Earnings, adjusted for non-recurring costs, were 46 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

Blackstone Group shares have decreased 17% 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

Automated Insights, source Associated Press News