Blackstone beats by $0.02, beats on revs :
- Reports Q4 (Dec) earnings of $0.68 per share, $0.02 better than the Capital IQ Consensus of $0.66; revenues rose 74.9% year/year to $1.57 bln vs the $1.49 bln Capital IQ Consensus.
- Total AUM increased 9% year-over-year to $366.6 billion driven by $69.7 billion of gross inflows.
- Each segment experienced growth despite $57.7 billion of capital returned to investors during the year.
- Distributable Earnings was $692 million ($0.55/unit) in the quarter, on $500 million of Realized Performance Fees.
- DE was $2.2 billion ($1.78/unit) for the year on $1.6 billion of Realized Performance Fees.
- Fee Related Earnings was $328 million in the fourth quarter, on $689 million of Fee Revenues.
- FRE was $1.0 billion for the year, up 7% year-over-year, on $2.5 billion of Fee Revenues, despite the spin-off of Blackstone's Advisory businesses completed in October 2015.
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