Blackstone said revenues for the 3 months ended June 30, 2025 were $3.7 billion, an increase of $915.5 million compared to $2.8 billion for the same period in 2024. The company cited an increase of $909.5 million in Investment Income (Loss) as the principal driver.

10-QQuarterly reportFiled Aug 8, 2025Period of report Jun 30, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Blackstone said revenues for the 3 months ended June 30, 2025 were $3.7 billion, an increase of $915.5 million compared to $2.8 billion for the same period in 2024. The company cited an increase of $909.5 million in Investment Income (Loss) as the principal driver.
Blackstone said Unrealized Investment Income increased $588.2 million and Management and Advisory Fees, Net increased $248.2 million for the 3 months. The Private Equity segment saw increases of $414.6 million and $191.4 million, respectively. The company cited the expiration of fee holidays for BCP IX and BETP IV as factors in the increase in fees.
Blackstone said revenues for the 6 months ended June 30, 2025 were $7.0 billion, an increase of $517.1 million, and expenses were $3.8 billion, an increase of $403.9 million. The effective tax rate for the 6 months was 15.8%, compared to 17.6% for the same period in the prior year.
Blackstone said it had Cash and Cash Equivalents of $2.2 billion, a Revolving Credit Facility of $4.325 billion, and total borrowings of $12.0 billion as of June 30, 2025, of which $750.0 million was drawn under the facility.

Key figures

Quarter ended June 30, 2025

Revenue: $3.7B
Net income: $764M
EPS: $0.98

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.

Q2 2025 Revenues $3.7 billion

Blackstone said revenues for the 3 months ended June 30, 2025 were $3.7 billion, an increase of $915.5 million compared to $2.8 billion for the same period in 2024. The company cited an increase of $909.5 million in Investment Income (Loss) as the principal driver.

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

Unrealized Investment Income and Management and Advisory Fees Increase

Blackstone said Unrealized Investment Income increased $588.2 million and Management and Advisory Fees, Net increased $248.2 million for the 3 months. The Private Equity segment saw increases of $414.6 million and $191.4 million, respectively. The company cited the expiration of fee holidays for BCP IX and BETP IV as factors in the increase in fees.

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

6-Month Revenues, Expenses and Effective Tax Rate

Blackstone said revenues for the 6 months ended June 30, 2025 were $7.0 billion, an increase of $517.1 million, and expenses were $3.8 billion, an increase of $403.9 million. The effective tax rate for the 6 months was 15.8%, compared to 17.6% for the same period in the prior year.

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

Liquidity and Borrowings

Blackstone said it had Cash and Cash Equivalents of $2.2 billion, a Revolving Credit Facility of $4.325 billion, and total borrowings of $12.0 billion as of June 30, 2025, of which $750.0 million was drawn under the facility.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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