Blackstone beats estimates, shares move higher

NEW YORK - Blackstone Inc. (NYSE:BX ) reported third-quarter earnings and revenue that surpassed analyst expectations, sending shares up 1.9% in early trading Thursday.

The world's largest alternative asset manager posted adjusted earnings per share of $1.01, exceeding the consensus estimate of $0.98. Revenue came in at $3.66 billion, significantly above analysts' projections of $2.68 billion.

Blackstone's total assets under management reached $1.01 trillion, up 6% YoY. Fee-earning assets under management grew 4% to $734.5 billion, while perpetual capital AUM increased 8% to $388.3 billion.

The firm raised over $25 billion in new capital during the quarter, bringing total inflows over the last twelve months to $138.9 billion. Blackstone deployed $12.4 billion in the quarter and $61.4 billion over the past year.

"Blackstone delivered resilient third-quarter results despite challenging markets," said Stephen A. Schwarzman, Chairman and CEO. "Our exceptional long-term track record, unique breadth and the power of our brand allowed us to raise over $25 billion of capital, and we are well positioned with record dry powder of $200 billion to deploy in a dislocated environment."

The company declared a quarterly dividend of $0.80 per share, payable on November 6 to shareholders of record as of October 30.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com