Blackstone Inc. (NYSE:BX) reported first-quarter results on Thursday that came in ahead of Wall Street forecasts, even as the firm operated in a challenging market environment.
Shares dipped 0.93% in premarket trading following the announcement.
Earnings and revenue exceed estimates
The alternative asset manager posted adjusted earnings of $1.36 per share for the quarter ended March 31, slightly above the analyst consensus of $1.34.
Revenue reached $3.62 billion, beating expectations of $3.41 billion and marking a 10% increase from $3.29 billion in the same period last year.
Strong growth in fee-related and distributable earnings
Fee Related Earnings rose 23% year-on-year to $1.5 billion, or $1.26 per share, compared with $1.3 billion a year earlier.
Distributable Earnings increased 25% to $1.8 billion, or $1.36 per share, up from $1.4 billion in the first quarter of 2025.
“Blackstone delivered outstanding first-quarter results despite the turbulent environment, highlighted by almost $70 billion of inflows and positive appreciation across nearly all of our flagship strategies,” said Stephen A. Schwarzman, Chairman and Chief Executive Officer.
Assets and inflows continue to expand
Total assets under management climbed 12% year-on-year to $1.3 trillion, while fee-earning AUM increased 9% to $937.6 billion.
The firm recorded $68.5 billion in inflows during the quarter and $246.3 billion over the past twelve months.
Capital deployment and shareholder returns
Blackstone deployed $35.6 billion in capital during the quarter, with realizations totaling $35.9 billion.
Net accrued performance revenues stood at $7.0 billion, or $5.69 per share, at the end of the quarter.
The company declared a quarterly dividend of $1.16 per share, payable on May 11, 2026, to shareholders of record as of May 4, 2026. Over the past year, Blackstone returned $6.5 billion to shareholders through dividends and share buybacks.