Categories Earnings, Finance, LATEST

Blackstone’s Q2 results beat market expectations

Blackstone (NYSE: BX) beat analysts’ forecasts for revenue and earnings for the second quarter of 2019, giving the stock a lift of 2.2% in premarket hours on Thursday.

Total revenues were $1.48 billion, down from $2.63 billion in the same period last year, but ahead of estimates of $1.18 billion.  

Net income attributable to the Blackstone Group was $305 million, or $0.45 per share, compared to $742 million, or $1.09 per share, in the year-ago quarter. Adjusted earnings rose 1% year-over-year to $709 million, or $0.57 per share, beating forecasts of $0.49 per share.  

Fee-related earnings rose 24% year-over-year to $422 million. Total assets under management (AUM) was up 24% to $545.5 billion, driven by inflows of $151 billion over the last 12 months and positive investment performance.

Also read: Blackstone Q1 2019 Earnings Report

Real Estate AUM increased 29% to $153.6 billion with inflows of $14.4 billion. Realizations totaled $4 billion in the quarter. Total AUM in Private Equity rose 43% to $171.2 billion with inflows of $16.8 billion. Realizations were $4.7 billion, including the sale of Cloverleaf.

Total AUM in Hedge Fund Solutions grew 5% to $81.4 billion with inflows of $3.8 billion. Credit AUM increased 13% to $139.3 billion with inflows of $10.1 billion. Realizations were $1.6 billion.

Blackstone completed its conversion to a corporation on July 1, 2019. The company repurchased 7 million shares during the quarter and increased its share repurchase authorization to $1 billion.

Blackstone declared a quarterly dividend of $0.48 per common share, payable on August 5, 2019 to shareholders of record on July 29, 2019.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

ADBE Earnings: Adobe reports higher Q2 earnings; results beat estimates

Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in second-quarter 2024 revenue and earnings. The results also topped expectations. Second-quarter revenues came in at $5.31 billion,

Dollar Tree (DLTR): A look at the discount retailer’s growth initiatives at its namesake banner

Shares of Dollar Tree, Inc. (NASDAQ: DLTR) were down over 1% on Thursday. The stock has dropped 24% year-to-date. The company delivered sales and GAAP earnings growth for the first

Key highlights from Signet Jewelers’ (SIG) Q1 2025 earnings results

Signet Jewelers Limited (NYSE: SIG) reported first quarter 2025 earnings results today. Sales decreased 9.4% year-over-year to $1.5 billion. Sales were down 9.6% on a constant currency basis. Same-store sales

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top