NEW YORK (AP) _ Blackstone Group L.P. (BX) on Wednesday reported fourth-quarter profit of $748.9 million.

On a per-share basis, the New York-based company said it had net income of $1.07. Earnings, adjusted for non-recurring costs, were $1.13 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The investment manager posted revenue of $3.63 billion in the period. Its adjusted revenue was $2.8 billion, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.18 billion.

For the year, the company reported profit of $1.05 billion, or $1.50 per share. Revenue was reported as $6.51 billion.

Blackstone Group shares have increased slightly 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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