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Compared to Estimates, Blackstone Inc. (BX) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Blackstone Inc. (BX - Free Report) reported revenue of $2.55 billion, up 2.6% over the same period last year. EPS came in at $0.98, compared to $0.97 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.51 billion, representing a surprise of +1.73%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.98.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $170.6 billion versus the five-analyst average estimate of $182.69 billion.
Fee-Earning Assets Under Management Rollforward - Real Estate: $301.58 billion versus the five-analyst average estimate of $296.59 billion.
Fee-Earning Assets Under Management Rollforward - Hedge Fund Solutions: $73.38 billion versus $77.11 billion estimated by five analysts on average.
Fee-Earning Assets Under Management Rollforward - Credit & Insurance: $235.83 billion versus $233.62 billion estimated by five analysts on average.
Segment Revenues- Realized Principal Investment Income: $9.94 million versus the six-analyst average estimate of $48.47 million. The reported number represents a year-over-year change of -77.3%.
Segment Revenues- Total Management and Advisory Fees, Net: $1.71 billion compared to the $1.65 billion average estimate based on six analysts. The reported number represents a change of +3.3% year over year.
Segment Revenues- Base Management Fees: $1.64 billion compared to the $1.59 billion average estimate based on six analysts. The reported number represents a change of +1.6% year over year.
Segment Revenues- Realized Performance Revenues: $536.39 million compared to the $551.62 million average estimate based on six analysts. The reported number represents a change of -16.4% year over year.
Segment Revenues- Fee Related Performance Revenues: $295.50 million versus the six-analyst average estimate of $212.36 million. The reported number represents a year-over-year change of +99.3%.
Segment Revenues- Real Estate- Base Management Fees: $694.18 million versus $694.72 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.6% change.
Segment Revenues- Real Estate- Realized Performance Revenues: $49.97 million versus the five-analyst average estimate of $174.40 million. The reported number represents a year-over-year change of +350.3%.
Segment Revenues- Credit & Insurance- Total Management and Advisory Fees, Net: $379.90 million compared to the $316.26 million average estimate based on five analysts. The reported number represents a change of +13.7% year over year.
Shares of Blackstone Inc. have returned -3.6% over the past month versus the Zacks S&P 500 composite's -1.7% 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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Compared to Estimates, Blackstone Inc. (BX) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Blackstone Inc. (BX - Free Report) reported revenue of $2.55 billion, up 2.6% over the same period last year. EPS came in at $0.98, compared to $0.97 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.51 billion, representing a surprise of +1.73%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.98.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $170.6 billion versus the five-analyst average estimate of $182.69 billion.
- Fee-Earning Assets Under Management Rollforward - Real Estate: $301.58 billion versus the five-analyst average estimate of $296.59 billion.
- Fee-Earning Assets Under Management Rollforward - Hedge Fund Solutions: $73.38 billion versus $77.11 billion estimated by five analysts on average.
- Fee-Earning Assets Under Management Rollforward - Credit & Insurance: $235.83 billion versus $233.62 billion estimated by five analysts on average.
- Segment Revenues- Realized Principal Investment Income: $9.94 million versus the six-analyst average estimate of $48.47 million. The reported number represents a year-over-year change of -77.3%.
- Segment Revenues- Total Management and Advisory Fees, Net: $1.71 billion compared to the $1.65 billion average estimate based on six analysts. The reported number represents a change of +3.3% year over year.
- Segment Revenues- Base Management Fees: $1.64 billion compared to the $1.59 billion average estimate based on six analysts. The reported number represents a change of +1.6% year over year.
- Segment Revenues- Realized Performance Revenues: $536.39 million compared to the $551.62 million average estimate based on six analysts. The reported number represents a change of -16.4% year over year.
- Segment Revenues- Fee Related Performance Revenues: $295.50 million versus the six-analyst average estimate of $212.36 million. The reported number represents a year-over-year change of +99.3%.
- Segment Revenues- Real Estate- Base Management Fees: $694.18 million versus $694.72 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.6% change.
- Segment Revenues- Real Estate- Realized Performance Revenues: $49.97 million versus the five-analyst average estimate of $174.40 million. The reported number represents a year-over-year change of +350.3%.
- Segment Revenues- Credit & Insurance- Total Management and Advisory Fees, Net: $379.90 million compared to the $316.26 million average estimate based on five analysts. The reported number represents a change of +13.7% year over year.
View all Key Company Metrics for Blackstone Inc. here>>>Shares of Blackstone Inc. have returned -3.6% over the past month versus the Zacks S&P 500 composite's -1.7% 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.