Blackstone Q3 Results Climb, Top Estimates; AUM Up

(RTTNews) - Alternative asset manager Blackstone Inc. (BX) reported Thursday that its third-quarter net income attributable climbed to $780.84 million from last year's $551.99 million.

Earnings per share grew 40% to $1.02 from $0.73 a year ago.

Distributable earnings were $1.28 billion, compared to prior year's $1.21 billion. Distributable earnings per share were $1.01, compared to $0.94 last year.

Analysts on average expected the company to report earnings of $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Total revenues climbed to $3.66 billion from last year's $2.54 billion. The Street was looking for revenues of $2.41 billion for the quarter.

Total Assets Under Management or AUM was $1.11 trillion, up 10 percent from last year's $1.01 trillion.

Further, Blackstone has declared a quarterly dividend of $0.86 per share to record holders of common stock at the close of business on October 28. The dividend will be paid on November 4.

In pre-market activity on the NYSE, Blackstone shares were gaining around 2.2 percent to trade at $163.19.

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