Summary
Blackstone Inc. (BX) reported its first quarter 2019 financial results, showcasing robust growth and strong performance. Total revenues increased by 14% year-over-year to $2.0 billion, driven by a significant 9% rise in Investment Income and a 11% increase in Management and Advisory Fees, Net. This revenue growth was supported by strong performance across its Private Equity and Real Estate segments. Despite a 6% increase in total expenses, primarily due to higher compensation and administrative costs, Blackstone's Net Income attributable to The Blackstone Group L.P. surged by 31% to $481.3 million. This performance reflects the company's ability to generate value for its investors and manage its operations effectively amidst a generally positive market environment characterized by a rebound in global equity and credit markets.
Financial Highlights
35 data points| Revenue | $2.02B |
| Operating Expenses | $1.04B |
| Interest Expense | $42.00M |
| Net Income | $481.30M |
| EPS (Basic) | $0.71 |
| EPS (Diluted) | $0.71 |
| Shares Outstanding (Basic) | 674.51M |
| Shares Outstanding (Diluted) | 1.20B |
Key Highlights
- 1Total revenues grew 14% year-over-year to $2.0 billion, indicating strong top-line performance.
- 2Investment Income increased by 9%, driven by positive performance in Real Estate and Credit segments.
- 3Management and Advisory Fees, Net, rose by 11%, reflecting growth in Fee-Earning Assets Under Management, particularly in Private Equity and Real Estate.
- 4Net Income attributable to The Blackstone Group L.P. increased significantly by 31% to $481.3 million.
- 5Fee Related Earnings increased by 12% to $374.5 million, demonstrating consistent recurring revenue generation.
- 6Total Assets Under Management grew by 8% to $511.8 billion, showing substantial growth in capital managed.
- 7Blackstone announced its intention to convert from a limited partnership to a Delaware corporation, aiming to broaden its investor base and simplify tax reporting.