Blackstone (NYSE:BX) shares are trading lower on Thursday after it reported third-quarter results.
The alternative asset manager firm reported segment revenues of $3.30 billion, up 36% year over year (Y/Y), beating the analyst consensus estimate of $3.12 billion.
Distributable earnings rose 48% Y/Y to $1.89 billion.
Distributable earnings per share of $1.52 (+50% Y/Y), beating the analyst consensus estimate of $1.23.
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Fee-related earnings increased 26% Y/Y to $1.48 billion.
Fee-related earnings rose 10% Y/Y in real estate, 13% Y/Y in the credit and insurance business, 68% Y/Y in the private equity, and 26% Y/Y in the Multi-Asset Investing segments.
Other Key Metrics
Net accrued performance revenue declined to $6.51 billion in the quarter from $6.99 billion in the prior year quarter.
Assets under management rose 12% Y/Y to $1.24 trillion, with inflows of $54.2 billion in the quarter.
Blackstone declared a quarterly dividend per share of $1.29, payable on November 10, to shareholders of record as of November 3, 2025.
The company repurchased 0.2 million shares in the quarter, with $1.7 billion in available authorization remaining as of Sept. 30
Blackstone has $11.1 billion in total cash, cash equivalents, corporate treasury, and other investments.
CEO Stephen A. Schwarzman called the third quarter “exceptional” due to the momentum across its three channels: “institutions, insurance and individuals.”
Price Action: BX shares are trading down by 1.06% to $160.00 at last check on Thursday.
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