Back to previous article

Blackstone first-quarter earnings narrowly beat forecasts

Blackstone, the world’s largest private equity firm, reported marginally better than expected first-quarter earnings on Thursday.

  • Blackstone Group L.P
  • 01 May 2024 21:30:08

Source: Sharecast

The New York-based firm said total revenues came in at $3.7bn, compared to $1.4bn a year previously, while net income rose to $1.6bn from $210.7m.

Distributable earnings, a key financial measure, came in at $1.27bn, compared to $1.25bn a year previously.

Distributable earnings per common share were $0.98, marginally higher than Wall Street estimates for $0.96.

Fewer asset sales meant net realisations fell 25% $293.3m. But that was partially offset by a 12% rise in fee-related earnings, including management and advisory fees, to $1.2bn.

Total assets under management were $1.06trn, up from $991.3bn a year previously.

Stephen Schwarzman, chief executive, said: “Blackstone reported strong first quarter results, highlighted by accelerating momentum in our private credit and private wealth business.

“We are seeing a strengthening transaction environment and attractive opportunities to deploy capital. We are well positioned to navigate today’s dynamic market landscape, with a portfolio concentrated in compelling sectors and nearly $200bn of dry powder available to invest.”

Compare our accounts

Whether you're looking for a Share Dealing Account or Share Dealing ISA, we've got an account to suit your needs.

View our accounts

Lloyds Bank is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

The Lloyds Bank Direct Investments Service is operated by Halifax Share Dealing Limited. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Registered in England and Wales no. 3195646. Halifax Share Dealing Limited is authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

Logo Allfunds

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

FE fundinfo Logo

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

Refinitiv Logo

© 2024 Refinitiv, an LSEG business. All rights reserved.