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NEW YORK - Blackstone (NYSE:BX) reported stronger-than-expected fourth quarter results on Thursday, with earnings and revenue surpassing analyst estimates, sending shares up 2.22% in early trading.
The private equity giant posted distributable earnings of $1.69 per share, beating the consensus forecast of $1.43. Revenue jumped 64% YoY to $4.15 billion, also topping expectations of $3.78 billion.
"Blackstone reported one of the best quarters in our history," said Stephen A. Schwarzman, Chairman and CEO. "Earnings growth accelerated sharply, while the key drivers of our business – inflows, investment activity and realizations – all reached their highest levels in two-and-a-half years."
Total (EPA:TTEF) assets under management rose 8% YoY to $1.13 trillion, with $57.5 billion of inflows in Q4. Fee-earning AUM increased 9% to $830.7 billion.
The firm deployed $41.6 billion of capital in the quarter and realized $25.9 billion from asset sales. Blackstone declared a quarterly dividend of $1.44 per share.
Looking ahead to 2025, Schwarzman said the firm is "exhibiting significant momentum" as it continues to innovate and build market-leading businesses.
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