WASHINGTON (AP) _ The Carlyle Group Inc. (CG) on Thursday reported fourth-quarter net income of $518.8 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Washington-based company said it had profit of $1.44. Earnings, adjusted for non-recurring gains, were 64 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The asset management firm posted revenue of $629.7 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $561.6 million.

For the year, the company reported profit of $348.2 million, or 97 cents per share. Revenue was reported as $2.29 billion.

Carlyle shares have climbed 7% since the beginning of the year. The stock has risen nearly 5% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CG at https://www.zacks.com/ap/CG

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