Blackstone (NYSE: BX) reported Q1 EPS of $0.37, $0.15 worse than the analyst estimate of $0.52.

Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, “I am pleased to announce the compelling next step in Blackstone’s evolution as a public company: the firm’s conversion to a corporation. Blackstone has established itself as one of the leading public companies in the world, with robust long-term revenue and earnings growth and one of the most powerful brands in financial services. We believe the decision to convert will make it significantly easier for both domestic and international investors to own our stock and should drive greater value for all of our shareholders over time.

In terms of results, the power of the Blackstone franchise was again demonstrated by our first-quarter performance. Our funds delivered attractive returns for our limited partners, as they have for over thirty years, helping us capture $43 billion of capital inflows in the quarter and a record $126 billion over the last twelve months. Blackstone’s Total Assets Under Management now exceed half a trillion dollars, at $512 billion, up 14% year over year.”

For earnings history and earnings-related data on Blackstone (BX) click here.