Blackstone beats by $0.04, beats on revs (36.55)
- Reports Q4 (Dec) earnings of $0.71 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.67; revenues rose 19.9% year/year to $1.88 bln vs the $1.73 bln Capital IQ Consensus.
- Economic Net Income was $850 million ($0.71/unit) in the quarter, up 5% year-over-year, on $1.8 billion of Total Segment Revenues. Total Assets Under Management grew to a record $434.1 billion through a combination of continued fundraising, fund appreciation, and strategic platform expansion.
- Inflows were $62.2 billion in the quarter, including $22 billion from Fidelity & Guaranty Life and $11 billion from the acquisition of Harvest, bringing full year inflows to a record $108.0 billion.
- Total AUM increased 18% year-over-year and Fee-Earning AUM was up 21% to $335.3 billion.
- Blackstone declared a fourth quarter distribution of $0.85 per common unit payable on February 20, 2018.