Blackstone reports Q1 EPS 71c, consensus 53c
Reports Q1 revenue $2.02B vs. $1.77B a year ago. Reports Fee Related Earnings of $374M, or 31c/unit, up 11% year-over-year. Reports Distributable Earnings of $538M, or 44c/unit, up 7% year-over-year. Blackstone Chairman and CEO Stephen Schwarzman said, "In terms of results, the power of the Blackstone franchise was again demonstrated by our first-quarter performance. Our funds delivered attractive returns for our limited partners, as they have for over thirty years, helping us capture $43B of capital inflows in the quarter and a record $126B over the last twelve months. Blackstone's Total Assets Under Management now exceed half a trillion dollars, at $512B, up 14% year over year." As previously reported, Blackstone announced plans to convert to a corporation, expected to be effective July1.