Blackstone Inc. reported second-quarter revenue of $3.8 billion, a 23.7% increase from the same period last year, surpassing the Zacks Consensus Estimate by 12.7%. Earnings per share came in at $1.52, compared to $1.21 a year ago and above the consensus estimate of $1.33. Fee-earning assets under management reached $267.82 billion in private equity, $277.42 billion in real estate, $98.11 billion in multi-asset investing, and $318.24 billion in credit and insurance, with the multi-asset figure exceeding analyst expectations. Total management and advisory fees, net, rose 11.4% year-over-year to $2.25 billion, driven by higher fees across credit and insurance, private equity, and multi-asset investing segments. Shares of Blackstone have returned 8.7% over the past month, outperforming the S&P 500's 0.4% gain.
Blackstone Group IncBlackstone reported Q2 revenue and EPS that beat estimates, with fee-earning AUM and management fees rising.