Blackstone (BX) Shines With Big Q3 Beat & $18B Hologic Deal – But Why Are Shares Falling?
Blackstone’s latest results painted a mixed picture. The firm reported distributable earnings of $1.889 billion, up 48% from a year ago and well above the $1.23 forecastreuters.com. However, on a GAAP basis net income dropped to $624.9 million from $780.8 million last year, and total revenue slid about 15.7% year-over-yearts2.tech. Investors focused on the earnings miss and slowing revenue, which partly offset the beat on cash profit. As a result, BX shares dipped about 1% intraday on Oct. 23, trading around $160benzinga.com.