We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Blackstone (BX) Beats on Q3 Earnings & Revenue Estimates
Read MoreHide Full Article
Have you been eager to see how The Blackstone Group L.P. (BX - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based premier global investment and advisory firm’s earnings release this morning:
An Earnings Beat
Blackstone came out with economic net income of 69 cents per share, which beat the Zacks Consensus Estimate of 57 cents.
Rise in revenues was primarily drove the earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Blackstone depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 3.4% downward over the last seven days.
Nonetheless, Blackstone has a decent earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in three of the four trailing quarters.
Blackstone posted total revenues (on a GAAP basis) of $1.75 billion, which outpaced the Zacks Consensus Estimate of $1.42 billion. Further, the figure increased 22% from the prior-year quarter.
Key Stats to Note:
Total assets under management (“AUM”) stood at $387.4 billion as of Sep 30, 2017.
Inflows were $19.7 billion in the quarter.
Total Dry Powder was $91.9 billion.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Blackstone. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Blackstone earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
Blackstone (BX) Beats on Q3 Earnings & Revenue Estimates
Have you been eager to see how The Blackstone Group L.P. (BX - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based premier global investment and advisory firm’s earnings release this morning:
An Earnings Beat
Blackstone came out with economic net income of 69 cents per share, which beat the Zacks Consensus Estimate of 57 cents.
Rise in revenues was primarily drove the earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Blackstone depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 3.4% downward over the last seven days.
Nonetheless, Blackstone has a decent earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in three of the four trailing quarters.
The Blackstone Group L.P. Price and EPS Surprise
The Blackstone Group L.P. Price and EPS Surprise | The Blackstone Group L.P. Quote
Revenue Came In Better Than Expected
Blackstone posted total revenues (on a GAAP basis) of $1.75 billion, which outpaced the Zacks Consensus Estimate of $1.42 billion. Further, the figure increased 22% from the prior-year quarter.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Blackstone. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Blackstone earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>