Blackstone Q4 Earnings Beat View; AUM Rises

Blackstone Inc. (BX) Thursday reported net earnings of $1.398 billion or $1.92 per share in the fourth quarter, compared with $748.87 million or $1.07 per share in the same quarter a year ago.

On average, fourteen analysts polled by Thomson Reuters expected the company to report earnings of $1.37 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $5.763 billion from $3.629 billion a year ago.

Total Assets Under Management ("AUM") increased to $880.9 billion from $618.6 billion last year.

Blackstone has declared a quarterly dividend of $1.45 per share to stockholders of record at the close of business on February 7, to be paid on February 14.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA has urged infant formula manufacturers to import infant formula products to the United States to meet the ongoing severe supply shortage. In order to further increase the availability of infant formula in the country, while protecting the health of infants, the regulator announced a guidance outlining increased flexibilities for the global manufacturers Retail giant Walmart Inc. reported Tuesday a profit for the first quarter of fiscal 2023 that declined 24.8 percent from last year, hurt by lower gross margins and net losses on equity investments. Adjusted earnings per share also missed analysts' expectations, but quarterly revenues topped it. The retailer also cut its earnings guidance for the second quarter and for the full-year 2023. Billionaire and Tesla CEO Elon Musk, who is in deal to acquire Twitter Inc., may seek a lower price for the social media platform as he estimates that there could be at least four times more fake accounts than what the company informed, Reuters reported. It was in late April that Twitter agreed to accept Musk's about $44 billion takeover offer and to become a privately held company.
Follow RTT