BlackRock, Inc., Blackstone Group LP Beat Earnings Estimates

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BlackRock, Inc., Blackstone Group LP Beat Earnings Estimates
By BlackRock [Public domain], via Wikimedia Commons

BlackRock and Blackstone released the earnings results from their most recently completed quarters this morning. BlackRock posted adjusted earnings of $4.89 per share, a 10% increase, on revenue of $2.72 billion, a 1% year over year improvement. Analysts had been looking for earnings of $4.50 per share.

Blackstone posted earnings of $1.05 per share on revenue of $2.51 billion for the first quarter. Analysts had been looking for earnings of $1.04 per share. In the same quarter last year, Blackstone reported earnings of 40 cents per share on revenue of $1.51 billion.

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Key metrics from BlackRock’s earnings report

BlackRock’s reported earnings were $4.84 per share, while its profit rose 9% to $822 million for the first quarter. The firm said its assets under management