Blackstone beats by $0.44, beats on revs (33.98 )
Reports Q2 (Jun) economic net income of $1.15 per share, $0.44 better than the Capital IQ Consensus of $0.71; revenues rose 56.2% year/year to $2.24 bln vs the $1.6 bln consensus.
- Blackstone's portfolio company operating approach drove results to record levels and segment appreciation outperformed the broader equity markets with 8.4% appreciation during the quarter and 28.3% LTM.
- Opportunistic Real Estate funds' carrying value appreciated 6.0% for the quarter and 28.3% LTM.
- Distributable Earnings more than doubled in the quarter year-over-year on a record level of realizations, bringing the year-to-date total to $1.3 billion ($1.06/unit).