The Blackstone Group L.P. (BX) revealed a profit for fourth quarter that dropped compared to the same period last year.
The company said its bottom line fell to $0.44 billion, or $0.37 per share. This was down from $1.45 billion, or $1.25 per share, in last year's fourth quarter.
Analysts had expected the company to earn $0.46 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter fell 58.9% to $0.88 billion. This was down from $2.14 billion last year.
The Blackstone Group L.P. earnings at a glance:
-Earnings (Q4): $0.44 Bln. vs. $1.45 Bln. last year.
-Earnings Decline (Y-o-Y): -69.7%
-EPS (Q4): $0.37 vs. $1.25 last year.
-EPS Decline (Y-o-Y): -70.4%
-Analysts Estimate: $0.46
-Revenue (Q4): $0.88 Bln vs. $2.14 Bln last year.
-Revenue Change (Y-o-Y): -58.9%
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