Blackstone Group LP (BX) Releases Earnings Results, Beats Expectations By $0.05 EPS

Blackstone Group LP (BX) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $0.44 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.39. The company posted revenue of $1192.48 million in the period, compared to analysts expectations of $1017.58 million. The company’s revenue was down -2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Blackstone Group LP opened for trading at $25.3 and hit $26.03 on the upside on Wednesday, eventually ending the session at $25.84, with a gain of 2.13% or 0.54 points. The heightened volatility saw the trading volume jump to 53,04,823 shares. Company has a market cap of $30,812 M.

In a different news, on Feb 23, 2016, Bennett J Goodman (director) sold 342,916 shares at $26.31 per share price. According to the SEC, on Dec 15, 2015, William G Parrett (director) purchased 4,000 shares at $28.72 per share price. On Sep 4, 2015, Kathleen Skero (Principal Accounting Officer) sold 2,800 shares at $34.06 per share price, according to the Form-4 filing with the securities and exchange commission.

The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity real estate hedge fund solutions non-investment grade credit secondary funds and multi-asset class exposures falling outside of other funds’ mandates. The Company’s segments include Private Equity Real Estate Hedge Fund Solutions and Credit. The Company’s Private Equity segment focuses on identifying managing and creating lasting value for its investors. The Company manages a number of global European and Asian focused opportunistic real estate funds several real estate debt investment funds a real estate investment trust (BXMT). The Company’s Hedge Fund Solutions group consists of Blackstone Alternative Asset Management (BAAM). Its credit business consists of GSO Capital Partners LP (GSO). It is a participant in the leveraged finance markets.

Blackstone Group LP

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