BX - Why Is Alternative Investment Giant Blackstone Stock Falling Premarket Thursday? | Benzinga
Blackstone Inc (NYSE:BX) shares are trading lower after it reported first-quarter FY24 results.
Blackstone reported adjusted revenues of $2.55 billion, beating the consensus of $2.49 billion.
Distributable earnings (DE) rose 1% Y/Y to $1.27 billion. Fee-related earnings grew by 12% Y/Y to $1.16 billion.
Fee-related earnings rose 12% Y/Y in the Real Estate, 25% in the Credit & Insurance business, and 2% Y/Y in the Private Equity segments.
Net accrued performance revenue declined to $6.1 billion in the quarter from $6.4 billion in the prior year quarter.
Distributable earnings per share of $0.98 topped the ...