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Stock impact report

Blackstone tops profit estimate as its assets hit record, dealmaking picks up [Yahoo! Finance]

Smartsheet Inc. Class A (SMAR) 
Last smartsheet inc. class a earnings: 3/17 04:21 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Over the past few quarters, high interest rates had been a drag on some aspects of Blackstone's business. With the Fed now entering into an easing cycle, the firm saw that weight starting to lift. The company's private equity funds appreciated by 6.2% in the quarter and its infrastructure funds by 5.5%, contributing to Blackstone's highest fund appreciation in three years. Chief Executive Steve Schwarzman hailed the results as "broad-based acceleration across our business." Blackstone's distributable earnings, which represent cash that can be used to pay dividends, totaled $1.3 billion in the third quarter, up 6% from the previous year. This translated into distributable earnings per share of $1.01, surpassing analysts' average estimate of $0.92, according to LSEG data. Fundraising during the quarter was led by credit. It said private wealth AUM hit $250 billion, with individual fundraising nearly doubling year-to-date compared to the previous year. Among Blackstone's major Show less Read more
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