Blackstone Group LP, the world's largest alternative asset manager, reported a 30 percent rise in first-quarter earnings, driven by strong gains in its private equity arm that more than offset small declines in its real estate unit.The results, buoyed by asset sales and a strong appreciation in Blackstone's takeover funds that outpaced the wider stock market, beat most analysts' expectations and sent shares up nearly 2 percent in afternoon trading.Blackstone said on Thursday that economic net income (ENI), a measure of profitability that takes into account the mark-to-market valuation of its portfolio, was $813.9 million in the first quarter versus $628.3 million a year ago.That translated into ENI per share of 70 cents, more than the 55 cents that analysts forecast on average in a Thomson Reuters poll.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX traded higher by 1.29% or $0.4/share to $31.34. In the past year, the shares have traded as low as $19.15 and as high as $35.39. On average, 5737370 shares of BX exchange hands on a given day and today's volume is recorded at 9302797.
Thomson Reuters Corporation (Thomson Reuters), is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.26% or $0.09/share to $34.82. In the past year, the shares have traded as low as $31.38 and as high as $38.73. On average, 864863 shares of TRI exchange hands on a given day and today's volume is recorded at 500645.
Thomson Reuters Corporation (Thomson Reuters), is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.26% or $0.1/share to $38.35. In the past year, the shares have traded as low as $32.83 and as high as $42.10. On average, 991575 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 511525.
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