Blackstone (NYSE:BX) shares dipped in the early part of Thursday's session after it reported earnings in line with analyst consensus expectations.
The alternative investment management company reported Q2 EPS of $0.93, in line with the analyst estimate of $0.93, but down 38% YoY. Revenue for the quarter came in at $2.81 billion versus the consensus estimate of $2.41B.
The firm's total AUM increased 46% to $1 trillion, with $30.1B of inflows in the quarter, bringing LTM inflows to $158.4B.
"Blackstone is the first alternative manager to surpass $1 trillion of assets under management," said Stephen Schwarzman, the firm's Chairman and Chief Executive Officer. "We believe we are in the early stages of the long-term growth of the alternatives industry, providing a vast opportunity for further expansion."
Despite the early slide, BX shares have reclaimed their earlier losses, now slightly up on the day at just above $108 per share.