Blackstone Q2 Profit More Than Doubles - Quick Facts

(RTTNews) - Private equity firm Blackstone Group L.P. (BX) reported that its second-quarter net income attributable to the company significantly increased to $517.02 million from last year's $211.15 million, with earnings per share improving to $0.85 from $0.36 in the previous year.

Economic net income per unit rose to $1.15 from $0.62 in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.71 per share for the quarter. Analysts' estimates typically exclude special items.

Total Revenues for the quarter rose to $2.26 billion from $1.44 billion in the prior year quarter. Wall Street expected revenues of $1.56 billion.

Blackstone has declared a quarterly distribution of $0.55 per common unit to record holders of common units at the close of business on July 28, 2014. This distribution will be paid on August 4, 2014.