Blackstone issued a press release that includes a detailed presentation of its results for the second quarter of 2020, in which it highlights that they obtained a net profit of 490 million euros, that is, an increase of 86% compared to the same period of 2019.
However, and due to the Covid-19 crisis, the excellent results of the second quarter did not prevent the net losses for the semester from being 430 million euros.
On the results obtained, Stephen A. Schwarzman, President and CEO, said:
“It was a strong quarter for our firm despite the continued market volatility. Investment performance rebounded sharply, we continued to deploy capital in high conviction sectors and our limited partners entrusted us with another $ 20 billion of inflows across our expanding platform. We are very well positioned to navigate the road ahead with our long-term committed capital model and an industry-record $ 156 billion of dry powder. ”
Additionally, Blackstone has declared a quarterly dividend of $ 0.37 per share for Class A common share registrants at the close of business on August 3, 2020, which will be paid on August 10, 2020.
Other key facts from the report presented by Blackstone are:
- Revenues between April and June grew by 70% (2,174 million euros)
- Income from management fees and investment advice increased by 15.5% (838 million euros)
- Expenses for salaries, commissions and other non-salary benefits increased 50% (830 million euros)
- Increase in the value of investments (922 million euros)
- General and administrative costs fell 3.4% (146 million euros).
Read full report in PDF
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