Summary
Blackstone Inc. (BX) reported strong financial performance for the six months ended June 30, 2017, driven by significant growth in Performance Fees, particularly from its Real Estate and Private Equity segments. Total revenues increased by 64% year-over-year to $3.49 billion, largely due to a 138% surge in Performance Fees, reaching $1.82 billion. Management and Advisory Fees also saw a healthy 9% increase. Despite higher expenses, largely driven by performance-related compensation, the company demonstrated substantial profitability, with Net Income Attributable to The Blackstone Group L.P. more than doubling to $804.6 million. The company's Assets Under Management grew to $371.1 billion, underscoring its expanding global reach and investment capabilities across its four key segments: Private Equity, Real Estate, Hedge Fund Solutions, and Credit.
Financial Highlights
33 data points| Revenue | $1.54B |
| Operating Expenses | -$881.19M |
| Interest Expense | $41.09M |
| Net Income | $337.41M |
| EPS (Basic) | $0.51 |
| EPS (Diluted) | $0.50 |
| Shares Outstanding (Basic) | 664.68M |
| Shares Outstanding (Diluted) | 1.20B |
Key Highlights
- 1Total Revenues surged 64% year-over-year to $3.49 billion for the first six months of 2017.
- 2Performance Fees more than doubled, increasing by 138% to $1.82 billion, driven by strong results in Real Estate and Private Equity.
- 3Management and Advisory Fees, Net, increased by 9% to $1.33 billion, reflecting growth in assets under management.
- 4Net Income Attributable to The Blackstone Group L.P. significantly increased by 125% to $804.6 million for the six-month period.
- 5Total Assets Under Management grew by 4% to $371.1 billion by the end of June 2017.
- 6Fee-Earning Assets Under Management also saw a 2% increase, reaching $281.9 billion, indicating growth in the fee-generating base.
- 7The company maintained a healthy Economic Income, demonstrating strong operational profitability across its segments.