The earnings call presented a strong performance across several key metrics, including record-breaking fee-related earnings and significant growth in assets under management. While the firm faces some challenges in the real estate sector and a muted realization environment, the positive results and strategic partnerships indicate a largely optimistic outlook.

Company Guidance

During Blackstone's second quarter 2025 investor call, the firm reported a GAAP net income of $1.6 billion, with distributable earnings also reaching $1.6 billion, or $1.21 per common share. They declared a dividend of $1.03 per share. Notably, distributable earnings increased by 25% year-over-year, while fee-related earnings grew by 31%. The firm achieved a record $1.2 trillion in assets under management, fueled by inflows of $52 billion in the quarter and $212 billion over the last 12 months. Blackstone invested $33 billion in the second quarter and $145 billion over the last year, with a focus on sectors like digital infrastructure and private credit. The firm's position in private credit expanded significantly, with $484 billion in assets under management across corporate and real estate credit, marking a threefold increase over five years. In the real estate sector, Blackstone highlighted a gradual appreciation trend over the past 18 months, with promising signs of recovery. The firm's leadership expressed optimism about the future, citing supportive economic conditions and a favorable policy environment. They emphasized the potential for increased transaction activity and realizations as market conditions improve.

Record-Breaking Fee-Related Earnings

Fee-related earnings grew by 31% year-over-year, marking one of the best quarters in the company's history.

Significant Asset Under Management Increase

Assets under management rose 13% year-over-year to a record $1.2 trillion.

Strong Fundraising Performance

Inflows reached $52 billion in the second quarter and $212 billion for the last 12 months.

Growth in Private Credit and Insurance

Private credit grew threefold in the past five years to $484 billion, and insurance AUM increased by 20% year-over-year to $250 billion.

Resilient Investment Performance

The corporate private equity funds appreciated 5.1% in the quarter and 17% over the last 12 months.

Innovative Partnerships

Entered into a significant partnership with Legal & General targeting up to $20 billion over the next five years.

Blackstone Group (BX) Earnings, Revenues Date & History

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BX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 16, 2025	2025 (Q3)	1.24 / -	1.01	―	―	―
Jul 24, 2025	2025 (Q2)	1.10 / 1.21	0.96	26.04% (+0.25)
Apr 17, 2025	2025 (Q1)	1.05 / 1.09	0.98	11.22% (+0.11)
Jan 30, 2025	2024 (Q4)	1.48 / 1.69	1.11	52.25% (+0.58)
Oct 17, 2024	2024 (Q3)	0.91 / 1.01	0.94	7.45% (+0.07)
Jul 18, 2024	2024 (Q2)	0.98 / 0.96	0.93	3.23% (+0.03)
Apr 18, 2024	2024 (Q1)	0.97 / 0.98	0.97	1.03% (+0.01)
Jan 25, 2024	2023 (Q4)	0.95 / 1.11	1.07	3.74% (+0.04)
Oct 19, 2023	2023 (Q3)	1.01 / 0.94	1.06	-11.32% (-0.12)
Jul 20, 2023	2023 (Q2)	0.92 / 0.93	1.49	-37.58% (-0.56)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 24, 2025	$170.92	$177.03	+3.57%
Apr 17, 2025	$127.70	$128.69	+0.78%
Jan 30, 2025	$181.42	$173.98	-4.10%
Oct 17, 2024	$155.50	$165.25	+6.27%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.