Blackstone Q1 Profit Misses Estimates

(RTTNews) - Blackstone Inc. (BX) reported that its first-quarter net income to Blackstone declined to $85.8 million or $0.11 per share from $1.22 billion or $1.66 per share, prior year. Distributable earnings was $1.2 billion or $0.97 per share, compared to $1.9 billion or $1.55 per share. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.98, for the quarter. Analysts' estimates typically exclude special items.

Total revenues was $1.38 billion compared to $5.13 billion, prior year. Analysts on average had estimated $2.57 billion in revenue.

Total AUM increased to $991.3 billion, up 8% year-over-year, with $40.4 billion of inflows in the quarter and $216.5 billion over the LTM.

Blackstone has declared a quarterly dividend of $0.82 per share to record holders of common stock at the close of business on May 1, 2023. The dividend will be paid on May 8, 2023.

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