We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Blackstone (BX) Beats on Q3 Earnings & Revenue Estimates
Read MoreHide Full Article
Have you been eager to see how Blackstone (BX - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based premier global investment and advisory firm’s earnings release this morning:
An Earnings Beat
Blackstone came out with economic net income of 76 cents per share, which beat the Zacks Consensus Estimate of 73 cents.
Significant rise in revenues primarily aided earnings.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Blackstone depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate has revised 2.3% lower over the last 30 days.
However, Blackstone has an impressive earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in each of the four trailing quarters.
Blackstone posted total revenues (on a GAAP basis) of $1.93 billion, which outpaced the Zacks Consensus Estimate of $1.82 billion. Also, the figure increase 11% from the prior-year quarter.
Key Stats to Note:
Total assets under management stood at $456.7 billion as of Sep 30, 2018.
Inflows were $24.1 billion in the quarter.
Total Dry Powder was $94.8 billion.
Returned nearly $1 billion to unitholders through a special cash distribution of 10 cents per share and repurchase of 6 million units in the third quarter.
What Zacks Rank Says
Blackstone currently carries a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Blackstone earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
Blackstone (BX) Beats on Q3 Earnings & Revenue Estimates
Have you been eager to see how Blackstone (BX - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based premier global investment and advisory firm’s earnings release this morning:
An Earnings Beat
Blackstone came out with economic net income of 76 cents per share, which beat the Zacks Consensus Estimate of 73 cents.
Significant rise in revenues primarily aided earnings.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Blackstone depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate has revised 2.3% lower over the last 30 days.
However, Blackstone has an impressive earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in each of the four trailing quarters.
The Blackstone Group L.P. Price and EPS Surprise
The Blackstone Group L.P. Price and EPS Surprise | The Blackstone Group L.P. Quote
Revenue Came In Better Than Expected
Blackstone posted total revenues (on a GAAP basis) of $1.93 billion, which outpaced the Zacks Consensus Estimate of $1.82 billion. Also, the figure increase 11% from the prior-year quarter.
Key Stats to Note:
What Zacks Rank Says
Blackstone currently carries a Zacks Rank #2 (Buy). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Blackstone earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>