Blackstone beats Q4 ests wide a wide margin
Reports Q4 (Dec) economic net income (ENI) of $1.35 per share, $0.52 better than the Capital IQ Consensus of $0.83; revenues rose 119.1% year/year to $2.69 bln vs the $1.82 bln consensus.
Distributable Earnings were $0.68/unit for the fourth quarter, driven by Realized Performance Fees and Realized Investment Income totaling $694 million. Fund activity generated $1.4 billion of Realized Performance Fees, up 126% for the year. Fee Related Earnings rose to $745 million driven by 18% growth in Fee-Earning Assets Under Management. Revenues were up 96% to $3.2 billion for 2013 generating a 107% increase in Economic Income to $2.1 billion. Overall carrying value of Real Estate Funds appreciated 13.1% for the quarter and 31.3% for the year Blackstone took advantage of improving equity markets to harvest gains driving.
Distributable Earnings were $0.68/unit for the fourth quarter, driven by Realized Performance Fees and Realized Investment Income totaling $694 million. Fund activity generated $1.4 billion of Realized Performance Fees, up 126% for the year. Fee Related Earnings rose to $745 million driven by 18% growth in Fee-Earning Assets Under Management. Revenues were up 96% to $3.2 billion for 2013 generating a 107% increase in Economic Income to $2.1 billion. Overall carrying value of Real Estate Funds appreciated 13.1% for the quarter and 31.3% for the year Blackstone took advantage of improving equity markets to harvest gains driving.