Blackstone Inc. announced on Thursday that its total revenue for the first quarter of fiscal 2025 decreased by 10.8% year-over-year, falling to $3.28 billion. The decline in revenue was primarily attributed to reduced earnings in the Performance Allocations and Principal Investment segments.
According to the report, total expenses increased to $1.9 billion. Net income for the same three months decreased to $1.2 billion, or $0.80 per diluted share. The world's largest alternative asset manager attracted $61.64 billion in inflows during the quarter, contributing to a 10% increase in its assets under management (AUM) to $1.17 trillion. Approximately half of these inflows were directed toward the credit and insurance segment.
"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," said Stephen A. Schwarzman, Chairman and Chief Executive Officer.
Blackstone shares dropped by 3.12% in premarket trading in New York to sell at $129.38, minutes after the report's publication.
