Blackstone Shares Drop 5% Despite Strong Earnings Beat and Fundraising Momentum

Core Insights - Blackstone Inc. reported stronger-than-expected third-quarter earnings, with distributable earnings of $1.52 per share, surpassing analyst expectations of $1.24 [1] - The company's quarterly revenue was $3.09 billion, slightly below consensus estimates of $3.2 billion [1] Financial Performance - Fee-related earnings increased by 26% year-over-year to $1.5 billion, equating to $1.20 per share [2] - The firm experienced $54.2 billion in quarterly inflows and $225.4 billion over the past twelve months, indicating strong investor interest in alternative assets [2] Assets Under Management - Total assets under management rose by 12% year-over-year to $1.24 trillion [3] - Fee-earning assets under management increased by 10% to $906.2 billion, supported by strong institutional demand and resilient fundraising across core investment areas [3]