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Blackstone (BX) Beats Q4 Earnings & Revenue Estimates

Have you been eager to see how The Blackstone Group L.P.BX 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 68 cents per share, which surpassed the Zacks Consensus Estimate of 64 cents.

Higher revenues primarily drove the earnings beat.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for Blackstone depicted optimism prior to the earnings release. The Zacks Consensus Estimate has moved 4.9% upward over the last 30 days.

However, Blackstone does not have a decent earnings surprise history. Before posting the earnings beat in Q4, the company delivered negative surprises in two of the four trailing quarters, with an average miss of 10.7%.

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 $1.57 billion, which significantly outpaced the Zacks Consensus Estimate of $1.37 billion. Further, the figure compared favorably with the year-ago number of $0.9 billion.

Key Stats to Note:

  • Total assets under management ("AUM") stood at $266.6 billion as of Dec 31, 2016.
  • Gross inflows were $69.7 billion in 2016.
  • Total Dry Powder was $101.3 billion, up 27% year-over-year.

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) 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 .)

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

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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.

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