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Blackstone Mortgage: 1Q Earnings Snapshot

NEW YORK (AP) _ Blackstone Mortgage Trust Inc. (BXMT) on Tuesday reported first-quarter net income of $76.6 million.

On a per-share basis, the New York-based company said it had profit of 62 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 71 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The real estate finance company posted revenue of $224.8 million in the period. Its adjusted revenue was $106.1 million.

Blackstone Mortgage shares have risen almost 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $35.02, an increase of 14 percent in the last 12 months.

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