Blackstone said revenues for the 3 months ended March 31, 2025 were $3.3 billion, a decrease of $398.4 million compared to the prior-year period, primarily reflecting a decrease of $469.2 million in Investment Income.

1. 01

   Blackstone said revenues for the 3 months ended March 31, 2025 were $3.3 billion, a decrease of $398.4 million compared to the prior-year period, primarily reflecting a decrease of $469.2 million in Investment Income.

2. 02

   The company cited a decrease of $511.3 million in its Credit & Insurance segment as a principal driver of the $485.7 million decrease in Unrealized Investment Income, explaining that unrealized appreciation of investments in Corebridge common stock based on the publicly traded price was lower.

3. 03

   Blackstone said its Provision for Taxes for Q1 2025 was $243.8 million and its effective tax rate was 16.8%, compared to 15.1% in the prior-year period, with Income Before Provision for Taxes of $1.5 billion compared to $1.9 billion in the prior-year period.

4. 04

   The company said Total Assets Under Management were $1,167.5 billion as of March 31, 2025, an increase of $40.3 billion compared to $1,127.2 billion as of December 31, 2024.

Key figures

Quarter ended March 31, 2025

Revenue

$3.3B

Net income

$615M

EPS

$0.80

Operating cash flow

$1.1B

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.

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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