NEW YORK CITY (dpa-AFX) - Blackstone (BX) reported economic net income of $371 million or $0.31 per unit, in the first quarter. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.37 for the quarter. Analysts' estimates typically exclude special items. GAAP net income decreased to $150.0 million from $629.5 million, prior year. Earnings per share was $0.23 compared to $1.00.
Total revenues were $929.45 million compared to $2.51 billion, a year ago. Analysts expected revenue of $973.91 million, for the quarter.
Blackstone declared a first quarter distribution of $0.28 per common unit payable on May 9, 2016.
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