Private equity and real estate firm Blackstone Group LP (BX.N) reported on Thursday better-than-expected second quarter earnings, as the value of its portfolio of companies increased and fee income rose. Blackstone's second-quarter economic net income was $703 million, up from $205 million a year earlier. Adjusted ENI was 63 cents per share, up from 18 cents a year earlier and above analysts' average forecast of 33 cents, according to Thomson Reuters I/B/E/S.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX remained unchanged at $16.26. In the past year, the shares have traded as low as $9.89 and as high as $19.63. On average, 3345310 shares of BX exchange hands on a given day and today's volume is recorded at 1860.
