The asset manager reported $1.52 non-GAAP EPS and $1.8 billion in fee-related earnings for the quarter.
Blackstone posted second-quarter non-GAAP earnings per share of $1.52, exceeding estimates by $0.18, as revenue surged 35.8% year-over-year to $5.04 billion. The beat of $1.69 billion over expectations was driven by strong fee-related earnings of $1.8 billion, or $1.43 per share.
Total assets under management reached $1,346.3 billion, with fee-earning AUM at $961.6 billion and perpetual capital AUM at $555.6 billion. The revenue growth reflects higher management fees and performance income amid robust investor inflows.
The results highlight Blackstone’s continued expansion in alternative asset management, with perpetual capital now accounting for over 40% of total AUM.