News
Blackstone Beats Analyst Estimates In Q2 Thanks To Unloaded Real Estate Assets
July 21, 2016
Blackstone CEO Stephen Schwarzman
The world's largest private equity manager, Blackstone Group, had a 2% increase in profits this past quarter, which it attributed to the unloading of real estate assets and credit portfolio gains.
Blackstone's economic income—which measures both the earnings realized and unrealized investment gains—increased to $520M (44 cents/share), up from $508M (43 cents/share) a year ago, beating analyst estimates of 39 cents/share, Bloomberg reports.
