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Blackstone Q3 Distributable Earnings Down 8% - Quick Facts

(RTTNews) - Blackstone (BX) reported third-quarter fee related earnings of $440 million or $0.37 per share, up 27 percent year-over-year. Distributable Earnings was $710 million or $0.58 per share, down 8 percent from prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.53, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter total revenues declined to $1.74 billion from $1.93 billion, previous year. Analysts expected revenue of $1.36 billion, for the quarter.

Total assets under management was $554.0 billion, up 21 percent year-over-year. Fee-earning assets under management was $394.1 billion, up 15 percent from prior year.

Blackstone has declared a quarterly dividend of $0.49 per common share to record holders of common shares at the close of business on November 4, 2019. The dividend will be paid on November 12, 2019.

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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