(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.
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