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7/21, 1:11 PM (Source: TeleTrader)
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Blackstone Q2 revenue falls to $629M

Private equity investment giant The Blackstone Group Inc. revealed on Thursday that its revenue in the second trimester of fiscal 2022 came in at $629 million, plunging from $5.3 billion recorded a year prior. Net loss attributable to Blackstone in the second quarter of 2022 stood at $29.4 million, or $0.04 per share, in comparison to the net income of $1.31 billion, or $1.82 per share, recorded in the same period of 2021.

Nevertheless, Blackstone reported that its assets under management increased to $940.8 billion, jumping 38% year over year. It declared a quarterly dividend of $1.27 per share, an increase from $0.70 recorded in the same period a year earlier.

"Blackstone’s flagship strategies again outperformed public markets and our investors entrusted us with $88 billion of inflows, which represented the second highest quarter of inflows in our 36-year history," Blackstone Chairman and CEO Stephen A. Schwarzman (pictured) commented.

Shares of Blackstone fell 2.06% to $99.02 in premarket trading following the announcement.

Baha Breaking News (BBN) / AY