Blackstone Group Q4 Profit Down

(RTTNews) - The Blackstone Group L.P. (BX) reported that its fourth-quarter declined to $281.59 million and $0.42 per share from $367.95 million and $0.55 per share last year.

Economic Net Income was $850 million or $0.71 per unit in the quarter,up 5% year-over-year.

Total AUM increased 18% year-over-year to $434.1 billion driven by $108.0 billion of inflows.

Total revenues for the quarter grew to $1.88 billion from $1.57 billion in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share and revenues of $1.74 billion. Analysts' estimates typically exclude special items.

Blackstone has declared a quarterly distribution of $0.85 per common unit to record holders of common units at the close of business on February 12, 2018. This distribution will be paid on February 20, 2018.