Blackstone Q2 Profit Matches Estimates; Segment Revenues Down 16%

(RTTNews) - Blackstone (BX) reported second quarter distributable earnings per share of $0.43 compared to $0.57, last year. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.43, for the quarter. Analysts' estimates typically exclude special items. Distributable earnings declined 23% to $547.98 million. Fee related earnings was $541 million or $0.45 per share, up 28% from prior year.

Second quarter total revenues were $2.52 billion compared to $1.49 billion, previous year. Total segment revenues were $1.11 billion, down 16% from prior year. Analysts expected revenue of $1.09 billion for the quarter.

Total assets under management was $564.3 billion, up 3% year-on-year. Blackstone has declared a dividend of $0.37 per share to record holders of Class A common stock at the close of business on August 3, 2020. The dividend will be paid on August 10, 2020.