Blackstone's Q4 total revenues drop to $1.7B
Blackstone Inc. announced on Thursday that its total revenues fell from $5.76 billion in the fourth quarter of fiscal 2021 to $1.7 billion in the same timeframe in 2022. Net income stood at $743 million after declining from $2.94 billion, while diluted earnings per share dropped from $1.92 to $0.75.
In full fiscal 2022, total revenues were $8.5 billion, compared to $22.6 billion documented in 2021. Net income and diluted earnings per share decreased from $12.4 billion and $8.13 to $3 billion and $2.36, respectively.
"Our total assets under management grew to a record $975 billion, up 11% year over year," Chairman and CEO Stephen Schwarzman (pictured) said. The investment management company's shares were down 0.61% in premarket after the release of the report.