NEW YORK (AP) _ Blackstone Inc. (BX) on Thursday reported first-quarter earnings of $1.22 billion.

On a per-share basis, the New York-based company said it had profit of $1.66. Earnings, adjusted for non-recurring gains, came to $1.55 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.

The investment manager posted revenue of $5.13 billion in the period. Its adjusted revenue was $3.5 billion, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $2.65 billion.

Blackstone Inc. shares have decreased 7% 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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