Blackstone Q1 Earnings Beat, AUM Touches Record High on Solid Inflows

Blackstone’s (BX) first-quarter 2024 distributable earnings of $1.09 per share surpassed the Zacks Consensus Estimate of$1.04. The figure reflects a rise of 11% from the prior-year quarter.Results benefited from higher segment revenues and a surge in assets under management (AUM) balance. However, an increase in GAAP expenses was a headwind.Net income attributable to Blackstone was $614.9 million, down 27.1% from the year-ago quarter.BX’s Segment Revenues Increase, GAAP Expenses RiseTotal segment revenues ...