Q1 25 EPS
$1.09
BEAT +2.76%
Est. $1.06
Q1 25 Revenue
$3.29B
BEAT +20.75%
Est. $2.72B
vs S&P Since Q1 25
-36.7%
TRAILING MARKET
BX +0.2% vs S&P +36.9%
Market Reaction
Did BX Beat Earnings? Q1 2025 Results
Blackstone delivered a strong first-quarter beat to kick off 2025, posting distributable EPS of $1.09 against a consensus estimate of $1.06, a 2.76% beat, while revenue of $3.29 billion cleared Wall Street's $2.72 billion forecast by more than 20% an… Read more Blackstone delivered a strong first-quarter beat to kick off 2025, posting distributable EPS of $1.09 against a consensus estimate of $1.06, a 2.76% beat, while revenue of $3.29 billion cleared Wall Street's $2.72 billion forecast by more than 20% and rose 4.2% year-over-year. The central driver was a surge in fee-related earnings, which climbed 9% year-over-year to $1.26 billion on the back of 11% growth in management and advisory fees, underscoring the durability of Blackstone's capital-light model even as GAAP net income dipped to $1.21 billion from $1.60 billion a year ago. Inflows of $61.60 billion, the highest quarterly level in nearly three years, lifted total AUM to $1.17 trillion, with Credit and Insurance emerging as the standout segment, growing AUM 21% to $388.70 billion. A recently closed infrastructure deal adding Safe Harbor Marinas for roughly $5.25 billion illustrates how the firm is actively deploying its $177 billion dry powder war chest. Blackstone also raised its quarterly dividend 12% to $0.93 per share, signaling confidence in sustained earnings momentum heading into the remainder of 2025.
Key Takeaways
- • Highest quarterly inflows in nearly three years at $61.6 billion
- • Total AUM increased 10% year-over-year to $1,167.5 billion
- • Fee-Earning AUM grew 10% to $860.1 billion
- • Perpetual Capital AUM reached $464.4 billion, up 14% year-over-year
- • Management and Advisory Fees grew 11% year-over-year
- • Fee Related Earnings increased 9% to $1.26 billion
- • Distributable Earnings per common share rose 11% to $1.09
- • Positive investment performance across all major strategies
- • Infrastructure appreciated 7.5% in the quarter and 23.6% LTM
- • Credit & Insurance inflows of $30.3 billion driven by direct lending
- • GAAP Management and Advisory Fees reached $1.90 billion, up from $1.73 billion year-over-year
BX YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
BX Revenue by Segment
With YoY comparisons, source: SEC Filings
“Blackstone reported another quarter of strong results despite turbulent markets. Inflows reached $62 billion — the highest level in nearly three years — reflecting the deep trust we've built with our investors over decades. We also delivered positive investment performance across all of our major strategies. We are well positioned to navigate the current environment with $177 billion of dry powder to deploy and a resilient, capital-light business model.”
— Stephen A. Schwarzman, Q1 2025 Earnings Press Release
BX Earnings Trends
BX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BX EPS Trend
Earnings per share: estimate vs actual
BX Revenue Trend
Quarterly revenue: estimate vs actual
BX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.36 | — | $3.62B | +5.47% |
| Q4 25 MISS FY | $1.53 | $1.30 | -15.03% | $4.36B | +30.32% |
| FY Full Year | $5.34 | $3.87 | -27.47% | $14.45B | +12.77% |
| Q3 25 BEAT | $1.23 | $1.52 | +23.83% | $3.09B | -0.71% |
| Q2 25 BEAT | $1.10 | $1.21 | +9.81% | $3.71B | +32.13% |
| Q1 25 BEAT | $1.06 | $1.09 | +2.76% | $3.29B | +20.75% |