Blackstone Group LP (NYSE:BX) released its earnings report for the second quarter of 2017 on Thursday.
Earnings per share reported by Blackstone Group LP in the second quarter of 2017 was 51 cents. This is an increase from its earnings per share of 30 cents from the same time last year. However, it wasn’t able to reach Wall Street’s earnings per share estimate of 62 cents for the quarter.
During the second quarter of 2017, Blackstone Group LP reported revenue of $1.55 billion. This is up from the revenue of $1.19 billion that was reported in the second quarter of 2016. It also came in above analysts’ revenue estimate of $1.53 billion for the second quarter of the year.
Blackstone Group LP reported net income of $744.69 million during the second quarter of 2017. The asset management company reported net income of $463.11 million during the same period of the year prior.
Blackstone Group LP has also announced a quarterly dividend for shareholders. This dividend is 54 cents per share and will be payable on Aug. 7, 2017. Holders of the company’s common stock must be on record as of July 31, 2017 to receive the dividend.
“Blackstone reported strong results for our shareholders in the second quarter, which also marked the end of our first decade as a public company,” Stephen Schwarzman, Chairman and CEO of Blackstone Group LP, said in a statement. “The firm remains in top form – revenue, earnings, and distributions all saw double-digit growth versus the prior year, and AUM reached a new all-time high of $371 billion, having grown fourfold since the IPO.”
BX stock was down slightly as of noon Thursday, but is up 28% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
