Markets
BX

Blackstone (BX) Beats on Q1 Earnings & Revenue Estimates

Have you been eager to see how The Blackstone Group L.P.BX performed in Q1 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 65 cents per share, which beat the Zacks Consensus Estimate of 46 cents.

Rise in assets under management primarily aided earnings.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for Blackstone depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate has revised 20.7% downward over the last seven days.

Nonetheless, Blackstone has an impressive earnings surprise history. Before posting the earnings beat in Q1, 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 $1.77 billion, which outpaced the Zacks Consensus Estimate of $1.69 billion. However, the figure decreased 8% from the prior-year quarter.

Key Stats to Note:

  • Total assets under management stood at $449.6 billion as of Mar 31, 2018.
  • Inflows were $18.2 billion in the quarter.
  • Total Dry Powder was $92.8 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.

(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 more than 1% 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!

The Hottest Tech Mega-Trend of All

Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

The Blackstone Group L.P. (BX): Free Stock Analysis Report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

BX

Other Topics

Earnings Investing Stocks