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1/27, 1:02 PM (Source: TeleTrader)
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Blackstone Q4 revenue at $1.8 billion, up by 85% YoY

The Blackstone Group Inc. unveiled on Wednesday its revenue in the fourth quarter of the year landed at $1.8 billion, up by a staggering 85% compared to the same period in 2019. Meanwhile, its income for the entire calendar year 2020 came in at $2.3 billion, down by 43% year-on-year.

The company's net income attributable to shareholders landed at $749 million for the fourth trimester, increasing by 54% on an annual level. However, for the entire 2020, it dropped by 50% to $1 billion. Its diluted earnings per share (EPS) in the fourth quarter rose by 50% to $1.07 year-on-year. For the full calendar year, they worsened by the same amount to $1.5.

"Blackstone achieved record results in the fourth quarter. Despite the highly challenged economic backdrop in 2020, we continued to deliver differentiated investment performance [...] leading to nearly $100 billion of capital inflows – the fourth consecutive year at this level or better," the company's Chief Executive Officer (CEO) Stephen A. Schwartzman (pictured) commented.

Blackstone's shares surged up by 2.31% in premarket trading after the release of the report.

Breaking the News / JR