Blackstone Inc. announced on Thursday that its total revenue in the second quarter of the fiscal year 2024 decreased by 0.7% to come in at $2.79 billion. The company's net income stood at $948 million, down from the $1.2 billion registered in the same period in 2023. Its diluted earnings per share (EPS) reached $0.58 per share, down from the $0.79 per share observed in the second trimester of the year before. However, Blackstone's year-to-date results for 2024 came in higher than in the same timeframe in 2023.
"We reported another quarter of strong results, underpinned by nearly $40 billion of inflows and $34 billion of deployment — reflecting the highest level of investment activity in two years. We are planting the seeds of future value creation. Blackstone is also in the early days of penetrating markets of enormous potential as a key solutions provider to clients and partners globally — particularly through large-scale investments in critical digital and energy infrastructure supporting the artificial intelligence revolution," Chairman and Chief Executive Officer (CEO) Stephen A. Schwarzman said.
Following the release of the report, Blackstone's shares decreased by 1.58% in premarket trading.
