PSP - Blackstone's Strong Q2 Drives Stock Higher: Assets Under Management Up 7% | Benzinga
Blackstone Inc (NYSE:BX) shares are trading higher after it reported second-quarter fiscal year 2024 adjusted revenues of $2.796 billion, beating the consensus of $2.619 billion.
Distributable earnings (DE) rose 3% Y/Y to $1.25 billion. Fee-related earnings fell 3% Y/Y to $1.11 billion.
Fee-related earnings fell 18% Y/Y in the Real Estate while rising 29% in the Credit & Insurance business and 1% Y/Y in the Private Equity segments.
Net accrued performance revenue declined to $6.21 billion in the quarter from $6.47 billion in the prior year quarter.
Distributable earnings per share of $0.96 (+3% Y/Y), missing the consensus of $0.98.
Asset under ...