Blackstone (BX) Shines With Big Q3 Beat & $18B Hologic Deal – But Why Are Shares Falling?
Q3 Earnings and Market Reaction Blackstone’s latest results (for the quarter ended Sept. 30) painted a mixed picture. The firm reported distributable earnings of $1.889 billion ($1.52 per share), up 48% from a year ago and well above the $1.23 forecast reuters.com. (Distributable earnings roughly measure cash profits available for dividends.) However, on a GAAP basis net income dropped to $624.9 million ($0.80/share) from $780.8 million last year, and total revenue slid about 15.7% year-over-year ts2.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,
