Earnings: Blackstone reports lower Q1 2025 revenue and profit

Blackstone, Inc. (NYSE: BX) has reported a decline in revenue and net income for the first quarter of 2025 when the investment giant’s assets under management grew in double digits.

• Total assets under management (AUM) increased 10% to $1.17 trillion in the March quarter from $1.06 trillion in the prior-year period
• Fee-earning AUM was $860.1 billion in the first quarter, while perpetual capital AUM came in at $464.4 billion
• The company reported revenues of $3.29 billion for the first quarter, compared to $3.69 billion in Q1 2024
• Net income decreased to $614.8 million or $0.80 per share during the three months from $847.4 million or $1.11 per share last year
• Distributable earnings were $1.4 billion or $1.09 per share in the first quarter, vs. $1.27 billion or $0.98 per share last year
• The management has declared a dividend of $0.93 per share, which is payable to shareholders on May 5, 2025
• The company repurchased 0.2 million shares in the first quarter and 3.5 million shares over the last twelve months