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Blackstone Inc. (BX) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Blackstone Inc. (BX - Free Report) reported revenue of $2.49 billion, down 29% over the same period last year. EPS came in at $0.97, compared to $1.55 in the year-ago quarter.
The reported revenue represents a surprise of +3.65% over the Zacks Consensus Estimate of $2.4 billion. With the consensus EPS estimate being $0.97, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Blackstone Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Fee-Earning Assets Under Management Rollforward- Private Equity: $165.3 billion versus $175.9 billion estimated by five analysts on average.
Fee-Earning Assets Under Management Rollforward- Real Estate: $287.5 billion versus the five-analyst average estimate of $277.5 billion.
Fee-Earning Assets Under Management Rollforward- Hedge Fund Solutions: $72.5 billion versus $78.9 billion estimated by five analysts on average.
Fee-Earning Assets Under Management Rollforward- Credit & Insurance: $206.6 billion versus $204.1 billion estimated by five analysts on average.
Segment Revenues- Realized Performance Revenues: $641.53 million versus the six-analyst average estimate of $464.70 million. The reported number represents a year-over-year change of -51.1%.
Segment Revenues- Fee Related Performance Revenues: $148.24 million versus $198.51 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -73.4% change.
Segment Revenues- Base Management Fees: $1.62 billion versus the six-analyst average estimate of $1.60 billion. The reported number represents a year-over-year change of +12.5%.
Segment Revenues- Realized Principal Investment Income: $43.69 million compared to the $93.58 million average estimate based on six analysts.
Segment Revenues- Transaction, Advisory and Other Fees, Net: $45.71 million versus the six-analyst average estimate of $76.04 million. The reported number represents a year-over-year change of -28.6%.
Segment Revenues- Total Management and Advisory Fees, Net: $1.65 billion compared to the $1.66 billion average estimate based on six analysts. The reported number represents a change of +12.2% year over year.
Segment Revenues- Credit & Insurance- Base Management Fees: $326.78 million compared to the $294.98 million average estimate based on five analysts.
Segment Revenues- Credit & Insurance- Transaction and Other Fees, Net: $8.45 million versus $7.61 million estimated by five analysts on average.
Shares of Blackstone Inc. have returned +10.2% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Blackstone Inc. (BX) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Blackstone Inc. (BX - Free Report) reported revenue of $2.49 billion, down 29% over the same period last year. EPS came in at $0.97, compared to $1.55 in the year-ago quarter.
The reported revenue represents a surprise of +3.65% over the Zacks Consensus Estimate of $2.4 billion. With the consensus EPS estimate being $0.97, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Blackstone Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Fee-Earning Assets Under Management Rollforward- Private Equity: $165.3 billion versus $175.9 billion estimated by five analysts on average.
- Fee-Earning Assets Under Management Rollforward- Real Estate: $287.5 billion versus the five-analyst average estimate of $277.5 billion.
- Fee-Earning Assets Under Management Rollforward- Hedge Fund Solutions: $72.5 billion versus $78.9 billion estimated by five analysts on average.
- Fee-Earning Assets Under Management Rollforward- Credit & Insurance: $206.6 billion versus $204.1 billion estimated by five analysts on average.
- Segment Revenues- Realized Performance Revenues: $641.53 million versus the six-analyst average estimate of $464.70 million. The reported number represents a year-over-year change of -51.1%.
- Segment Revenues- Fee Related Performance Revenues: $148.24 million versus $198.51 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -73.4% change.
- Segment Revenues- Base Management Fees: $1.62 billion versus the six-analyst average estimate of $1.60 billion. The reported number represents a year-over-year change of +12.5%.
- Segment Revenues- Realized Principal Investment Income: $43.69 million compared to the $93.58 million average estimate based on six analysts.
- Segment Revenues- Transaction, Advisory and Other Fees, Net: $45.71 million versus the six-analyst average estimate of $76.04 million. The reported number represents a year-over-year change of -28.6%.
- Segment Revenues- Total Management and Advisory Fees, Net: $1.65 billion compared to the $1.66 billion average estimate based on six analysts. The reported number represents a change of +12.2% year over year.
- Segment Revenues- Credit & Insurance- Base Management Fees: $326.78 million compared to the $294.98 million average estimate based on five analysts.
- Segment Revenues- Credit & Insurance- Transaction and Other Fees, Net: $8.45 million versus $7.61 million estimated by five analysts on average.
View all Key Company Metrics for Blackstone Inc. here>>>Shares of Blackstone Inc. have returned +10.2% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.