Blackstone Q3 Net Income Rises to $662M as AI Infrastructure Gains Offset Real Estate Weakness
BX is trading near its 52-week low of $101.73 (6.7% above the low).
Summary
Blackstone's third-quarter net income rose to $662.4 million, or 83 cents a share, from $624.9 million, or 80 cents a year earlier, as gains in AI-related infrastructure investments offset weakness in private equity and real estate. Distributable earnings, the dividend metric, fell to $1.32 a share from $1.52, matching the 13% decline already reported this morning. Revenue slipped to $3.06 billion and private-equity distributable earnings dropped 6.7% to $813.1 million. The offset came from infrastructure, up 6.4% in the quarter and 28.9% over twelve months, with the firm's AI build-out — data centers plus fund stakes in SpaceX, Anthropic and OpenAI — now a core earnings driver. Total AUM rose 10% to $1.368 trillion on $63.3 billion of inflows, and fee-related earnings were $1.6 billion, or $1.26 a share. The split picture is the story: headline net income up, but the cash earnings that fund the dividend down, with realizations still frozen.
At the time of this announcement, BX was trading at $108.51 on NYSE in the Finance sector, with a market capitalization of approximately $136.1B. The 52-week trading range was $101.73 to $165.14. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.