Blackstone Group (BX) Reports A Loss of $0.06, Big Drop in Revenues

May 15, 2008 8:38 AM EDT

The Blackstone Group (NYSE: BX) reports a Q1 loss of $0.06, ex-items, versus the consensus of a $0.12 profit. Revenues came in at $68.5 million (negative revenue from Performance Fees and Allocations
and Investment Income and Other), versus the consensus of $405.6 million.

The Blackstone Group L.P. is pleased to declare a quarterly distribution of $0.30 per common unit payable to record holders of common units at the close of business on May 30, 2008. This distribution will be paid on June 13, 2008. In addition, Blackstone reaffirms its intention to make priority distributions to its public common unitholders of $1.20 per common unit per year through 2009, to be paid quarterly. These distribution amounts differ from Blackstone’s earnings/loss per unit.

The Blackstone Group L.P. is a leading global alternative asset manager and provider of financial advisory services. Its alternative asset management businesses include the management of corporate private equity funds, real estate funds, funds of hedge funds, debt funds (including leveraged lending
funds), collateralized loan obligation (“CLO”) vehicles, proprietary hedge funds and closed-end mutual funds.

Related Categories

Earnings

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?