Blackstone said revenue for the 3 months ended June 30, 2024 was $2.8 billion, down $18.3 million from a year earlier. The company cited a $139.3 million decrease in Investment Income (Loss) as the main factor, partially offset by a $77.9 million increase in Management and Advisory Fees, Net.

10-QQuarterly reportFiled Aug 2, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Blackstone said revenue for the 3 months ended June 30, 2024 was $2.8 billion, down $18.3 million from a year earlier. The company cited a $139.3 million decrease in Investment Income (Loss) as the main factor, partially offset by a $77.9 million increase in Management and Advisory Fees, Net.
The company said revenue for the 6 months ended June 30, 2024 was $6.5 billion, up $2.3 billion from a year earlier. It cited a $2.0 billion increase in Unrealized Investment Income (Loss) as the main factor, and said the $924.3 million increase in Credit & Insurance segment revenue included unrealized fair value gains on its Corebridge common stock holdings.
Blackstone said its income tax expense for the 3 months ended June 30, 2024 was $260.2 million, up $37.0 million, and its effective tax rate was 21.5% (15.6% a year earlier). The company said the higher tax rate was mainly related to the deferred tax impact of its investment in its operating partnerships.
Blackstone said Assets Under Management were $808.7 billion as of June 30, 2024, up $781.4 billion from March 31, 2024, an increase of $27.3 billion. Private Equity segment Assets Under Management rose from $179.4 billion to $200.5 billion, while Real Estate segment Assets Under Management fell from $301.6 billion to $299.1 billion.

Key figures

Quarter ended June 30, 2024

Revenue: $2.8B
Net income: $444M
EPS: $0.58

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly Revenue of $2.8 billion, Down $18.3 million Year over Year

Blackstone said revenue for the 3 months ended June 30, 2024 was $2.8 billion, down $18.3 million from a year earlier. The company cited a $139.3 million decrease in Investment Income (Loss) as the main factor, partially offset by a $77.9 million increase in Management and Advisory Fees, Net.

Source · Based on the MD&A text of the filing

6-Month Revenue of $6.5 billion, Unrealized Investment Income Up $2.0 billion

The company said revenue for the 6 months ended June 30, 2024 was $6.5 billion, up $2.3 billion from a year earlier. It cited a $2.0 billion increase in Unrealized Investment Income (Loss) as the main factor, and said the $924.3 million increase in Credit & Insurance segment revenue included unrealized fair value gains on its Corebridge common stock holdings.

Source · Based on the MD&A text of the filing

Quarterly Effective Tax Rate of 21.5%, Versus 15.6% a Year Earlier

Blackstone said its income tax expense for the 3 months ended June 30, 2024 was $260.2 million, up $37.0 million, and its effective tax rate was 21.5% (15.6% a year earlier). The company said the higher tax rate was mainly related to the deferred tax impact of its investment in its operating partnerships.

Source · Based on the MD&A text of the filing

Assets Under Management of $808.7 billion, Up $27.3 billion from March 31

Blackstone said Assets Under Management were $808.7 billion as of June 30, 2024, up $781.4 billion from March 31, 2024, an increase of $27.3 billion. Private Equity segment Assets Under Management rose from $179.4 billion to $200.5 billion, while Real Estate segment Assets Under Management fell from $301.6 billion to $299.1 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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