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Blackstone (BX) Beats on Q4 Earnings & Revenue Estimates

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Have you been eager to see how The Blackstone Group L.P. (BX - Free Report) performed in Q4 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 71 cents per share, which beat the Zacks Consensus Estimate of 70 cents.

Rise in revenues primarily drove the earnings beat.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for Blackstone depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained stable over the last seven days.

Nonetheless, Blackstone has a decent earnings surprise history. Before posting the earnings beat in Q4, the company delivered positive surprises in three of the four trailing quarters.

Revenue Came In Better Than Expected

Blackstone posted total revenues (on a GAAP basis) of $1.88 billion, which outpaced the Zacks Consensus Estimate of $1.81 billion. Further, the figure increased 20% from the prior-year quarter.

Key Stats to Note:
 

  • Total assets under management stood at $434.1 billion as of Dec 31, 2017.
  • Inflows were $62.2 billion in the quarter.
  • Total Dry Powder was $94.8 billion.


What Zacks Rank Says

Blackstone current has a Zacks Rank #3 (Hold). 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.)

How the Market Reacted So Far

Following the earnings release, Blackstone shares were up 1.3% in the pre-trading session. This is in line with what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have considered the results in their favor. However, the full-session’s price movement may indicate a different picture.

Check back later for our full write up on this Blackstone earnings report!

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