Blackstone Surges 8.36% as Earnings and Inflows Take Focus

After-the-fact Expert

Blackstone shares surged 8.36% as investors digested its third-quarter results. The alternative asset manager reported earnings per share of $1.32 versus an estimate of about $1.30, while inflows reached $63 billion. Blackstone also declared a quarterly dividend of $1.12 per share and highlighted momentum across its fundraising channels.  For informational and educational purposes only. Not financial advice.  #Blackstone #BX #Earnings #StockMarket #Financials

Transcript

00:00Blackstone surged 8.36% today. What happened? What happened was a third-quarter earnings beat.

00:08In an SEC filing, Blackstone reported earnings per share of 1.32, ahead of the roughly 1.30

00:16estimate. The company also said inflows reached $63 billion, with positive momentum across its

00:24major fundraising channels. CEO Stephen Schwarzman highlighted strong results despite a volatile

00:32external environment, along with outperformance by the firm's flagship strategies. Shares rallied

00:39after investors got that combination of better-than-expected earnings and substantial inflows.

00:45Financials rose 1.11% today, so this went much further than the sector did.

00:52A new post-market recap every trading day.

Category

Transcript

Recommended