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Yahoo Finance Plus Blackstone Inc. (BX) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Blackstone Inc. (BX) reported revenue of $2.35 billion, down 43.4% over the same period last year. EPS came in at $0.93, compared to $1.49 in the year-ago quarter.
The reported revenue represents a surprise of -1.30% over the Zacks Consensus Estimate of $2.38 billion. With the consensus EPS estimate being $0.92, the EPS surprise was +1.09%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Blackstone Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Fee-Earning Assets Under Management Rollforward - Private Equity: $165.6 billion compared to the $174.4 billion average estimate based on five analysts.
Fee-Earning Assets Under Management Rollforward - Real Estate: $287.6 billion versus $283.3 billion estimated by five analysts on average.
Fee-Earning Assets Under Management Rollforward - Hedge Fund Solutions: $69.6 billion compared to the $79.3 billion average estimate based on five analysts.
Fee-Earning Assets Under Management Rollforward - Credit & Insurance: $208.4 billion compared to the $210.6 billion average estimate based on five analysts.
Segment Revenues- Fee Related Performance Revenues: $266.74 million versus $159.70 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -23% change.
Segment Revenues- Base Management Fees: $1.62 billion compared to the $1.61 billion average estimate based on six analysts. The reported number represents a change of +8.3% year over year.
Segment Revenues- Total Management and Advisory Fees, Net: $1.70 billion compared to the $1.66 billion average estimate based on six analysts. The reported number represents a change of +9.4% year over year.
Segment Revenues- Realized Principal Investment Income: -$7.46 million versus $57.70 million estimated by six analysts on average.
Segment Revenues- Transaction, Advisory and Other Fees, Net: $92.74 million compared to the $58.65 million average estimate based on six analysts. The reported number represents a change of +9% year over year.
Segment Revenues- Realized Performance Revenues: $388.42 million compared to the $518.24 million average estimate based on six analysts. The reported number represents a change of -82.4% year over year.
Segment Revenues- Hedge Fund Solutions- Realized Principal Investment Income (Loss): $8 million versus the five-analyst average estimate of $2.89 million.
Segment Revenues- Credit & Insurance- Base Management Fees: $335.31 million versus the five-analyst average estimate of $317.73 million.
View all Key Company Metrics for Blackstone Inc. here>>>
Shares of Blackstone Inc. have returned +21.4% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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