Blackstone beats by $0.05, beats on revs :
- Reports Q2 (Jun) earnings of $0.44 per share, $0.05 better than the Capital IQ Consensus of $0.39; revenues fell 2.7% year/year to $1.19 bln vs the $1.02 bln Capital IQ Consensus.
- Distributable Earnings was $503 million ($0.42/unit) in the quarter, on $353 million of Realized Performance Fees.
- Fee Related Earnings was $226 million in the second quarter, up 27% from $178 million in the prior year despite the spin-off of Blackstone's Advisory businesses completed in October 2015.
- Gross inflows were $21.2 billion in the quarter, bringing the last twelve months inflows to $70.0 billion.
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