Blackstone Q3 Economic Net Income Up 11%; Total Revenues Up 11% - Quick Facts

(RTTNews) - Blackstone (BX) reported third-quarter economic net income of $911 million or $0.76 per unit, up 11% year-over-year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.74 for the quarter. Analysts' estimates typically exclude special items. GAAP net income attributable to The Blackstone Group L.P. was $443 million for the quarter, up 17% from prior year. Total revenues were $1.93 billion, up 11% from prior year. Assets Under Management was $456.7 billion, up 18% year-over-year.

Stephen Schwarzman, CEO, said, "Blackstone reported excellent third quarter results, highlighted by strong fundamental growth across our key financial metrics, $1 billion in distributions and share buybacks, and $125 billion of capital inflows over the past twelve months, an industry record. Assets under management increased 18% versus the prior year, bringing the total to a new record of $457 billion."

Blackstone has declared a quarterly distribution of $0.64 per common unit to record holders of common units at the close of business on October 29, 2018. This distribution will be paid on November 5, 2018.