Blackstone reports Q3 ENI 69c, consensus 54c
Reports Q3 revenue $1.69B, consensus $1.4B. Stephen A. Schwarzman, Chairman and CEO, said, "Today, Blackstone reported another quarter of consistent growth for our shareholders, with strong double-digit increases in revenue and earnings for both the quarter and year-to-date period. We continue to successfully expand our global investment platforms, launching new products and channels, and delivering a broader range of solutions for our institutional and retail clients alike. The result is nearly $20B of capital inflows in the third quarter, propelling us to a new record for AUM of $387B, up 7% year-over-year. And I expect that record to be exceeded again in the fourth quarter." Blackstone said inflows were $19.7B in the quarter, total AUM increased 7% y/y and fee-earning AUM was up 7% to $285.7B.