The Blackstone Group Earnings: Here’s Why Investors are Happy Now
The Blackstone Group (NYSE:BX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.86.
The Blackstone Group Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 226.32% to $0.62 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Rose 64.49% to $1.44 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Blackstone Group reported adjusted EPS income of $0.62 per share. By that measure, the company beat the mean analyst estimate of $0.49. It beat the average revenue estimate of $1.13 billion.
Quoting Management: “Robust realizations allowed us to generate significant returns for our fund investors and higher distributable earnings for our unitholders,” Blackstone Chief Executive Stephen Schwarzman said in a statement.
Key Stats (on next page)…