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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Blackstone Beats Expectations 0 comments
    Jul 17, 2014 12:53 PM | about stocks: BX

    Originally published at

    The Blackstone Group LP (NYSE:BX) announced its second quarter financial results for fiscal year 2014, reporting results that blew past expectations. The world's largest alternative asset manager posted economic net income (ENI) of $1.3B, up from the year-ago $703M, its best second quarter result recorded. This result was due to ENI increasing 278% in its private equity segment to $647.7M, with real estate ENI improving 32% to $489.4M. ENI per share jumped to $1.15 per share, well above analyst expectations of $0.71 per share. Blackstone's well-timed exits of investments held in Hilton and SeaWorld, helped to net the company large returns on investment, and the company expects its earnings to only fuel further growth and success.

    Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: BX
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