Banking, finance, and taxes
Blackstone Loses & Contracts, Yet Assets Grow To Record (BX)
Published:
The Blackstone Group L.P. (NYSE: BX) has reported earnings this morning, and it’s really hard to find anything pretty in the release.
The private equity leader posted a GAAP net loss of $246.7 million after items, and its "economic net income" was listed also a s a loss at -$93.6 million. Its total net reportable segment revenues were $32.3 million, driven down by declines in all business segments from $1.23 billion in 2007. Its GAAP revenues were $68.5 million.
This will show you the magnitude of the drops in segments reported:
- Corporate Private Equity had negative first quarter revenues;
- Real Estate revenues down 94%;
- Marketable Alternative Asset Management down 81%;
- Financial Advisory Revenues decreased 24%.
You can look through the entire release, but as the company noted, most business segments were indeed lower.
Interestingly enough, the company now has $113.53 billion in assets under management. That assets under management figure represents a 37% increase from last year. It has also decided to make a dividend payment of $0.30.
Shares of Blackstone are down about 4% at $18.70 in pre-market trading with about 30 minutes to the open.
Jon C. Ogg
May 15, 2008
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
