Blackstone Analysts Increase Their Forecasts After Q3 Earnings

Blackstone Inc (NYSE:BX) reported better-than-expected third-quarter financial results on Thursday.

Blackstone reported third-quarter fiscal year segment revenues of $2.434 billion, slightly beating the consensus of $2.408 billion. Distributable earnings (DE) rose 6% year-over-year to $1.279 billion. Fee-related earnings increased 5% to $1.18 billion.

"We invested or committed $54 billion in the quarter, the highest in over two years, and deployed $123 billion in the last twelve months since the cost of capital peaked," Blackstone CEO and Chairman Stephen A. Schwarzman said. "The third quarter also represented the highest amount of overall fund appreciation in three years, and our limited partners entrusted us ...