

By Chibuike Oguh
NEW YORK (Reuters) -Blackstone Inc, the world's largest alternative asset manager, posted an 86% surge in second-quarter distributable earnings on Thursday but warned that the asset sales fueling this growth would slow down amid the economic downturn.
Blackstone (NYSE:BX) shares fell more than 6% on Thursday morning as investors focused on the downbeat outlook given by the firm's president, Jonathan Gray, rather than on the earnings beat.
"Volatile markets do mean realizations will likely be muted for some time," Gray told analysts on a conference call, referring to asset sales which drive the firm's distributable earnings by allowing it to book lucrative performance fees.
He added that the management fees Blackstone charges fund investors would provide a "meaningful ballast" in the downturn.
Blackstone completed the sale of several assets, primarily in real estate, during the quarter, including the divestment for $5.65 billion of luxury hotel and casino the Cosmopolitan of Las Vegas and the 21 billion-euro ($23.81 billion) recapitalization of Mileway, the biggest operator of urban warehouses in Europe.
Some of these deals had been signed before Russia's invasion of Ukraine in February and subsequent interest rate hikes by central banks sent markets into a downward spiral. The divestments were completed in the second quarter, allowing Blackstone to book the performance fees.
Distributable earnings - which represent the cash available for paying dividends to shareholders - rose to $2 billion in the three months to June 30, from $1.1 billion a year ago. This beat average analysts' estimate of $1.03 billion, according to financial data provider Refinitiv.
Blackstone said its private equity portfolio depreciated by 6.7% during the quarter, while its opportunistic real estate funds fell 1%. Funds managed under its hedge fund unit were flat at 0.6%. By comparison, the benchmark S&P 500 index was down 16.5% during the period.
Lower corporate valuations sent Blackstone scouring for bargains. The firm spent $48 billion on new acquisitions, including several real estate income trusts - American Campus (NYSE:ACC) Communities Inc and Preferred Apartment Communities (NYSE:APTS) Inc. It also agreed to pay $6.3 billion for Crown Resorts, Australia's largest casino operator.
Under generally accepted accounting principles (GAAP), Blackstone reported a net loss of $29.4 million, compared with net income of $1.3 billion a year ago. This is because that metric takes into account the big drop in the valuation of the company's funds.
Assets under management hit a record $940.8 billion, up 3% from $915 billion in the prior quarter, driven by strong fundraising.
Unspent capital grew to a record $170.1 billion, up from $139.3 billion three months earlier. Blackstone declared a quarterly dividend of $1.27 per share, up from 70 cents a year ago.
EUR/USD
1.0151
-0.0008 (-0.08%)
Summary
BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (5)
Sell (4)
EUR/USD
1.0151
-0.0008 (-0.08%)
Summary
BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (5)
Sell (4)
GBP/USD
1.2056
+0.0002 (+0.02%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (0)
USD/JPY
134.49
+1.17 (+0.88%)
Summary
↑ SellMoving Avg:
Buy (4)
Sell (8)
Indicators:
Buy (0)
Sell (8)
AUD/USD
0.7008
-0.0014 (-0.20%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (9)
Sell (1)
USD/CAD
1.2891
-0.0013 (-0.10%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (6)
Sell (2)
EUR/JPY
136.54
+1.09 (+0.80%)
Summary
NeutralMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (3)
Sell (6)
EUR/CHF
0.9641
+0.0027 (+0.28%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (5)
Sell (2)
Gold Futures
1,789.05
-9.05 (-0.50%)
Summary
↑ SellMoving Avg:
Buy (2)
Sell (10)
Indicators:
Buy (7)
Sell (1)
Silver Futures
19.992
-0.280 (-1.38%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (8)
Sell (0)
Copper Futures
3.6210
+0.0035 (+0.10%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (3)
Sell (3)
Crude Oil WTI Futures
89.19
-0.22 (-0.25%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (8)
Brent Oil Futures
94.70
-0.40 (-0.42%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (1)
Sell (9)
Natural Gas Futures
9.242
+0.514 (+5.89%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (3)
Sell (6)
US Coffee C Futures
222.88
-2.62 (-1.16%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (7)
Euro Stoxx 50
3,792.25
+2.63 (+0.07%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (8)
Sell (1)
S&P 500
4,297.14
+16.99 (+0.40%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (3)
Sell (4)
DAX
13,845.60
+28.99 (+0.21%)
Summary
↑ BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (6)
Sell (1)
FTSE 100
7,543.60
+34.45 (+0.46%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (4)
Sell (4)
Hang Seng
19,830.52
-210.34 (-1.05%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (9)
Sell (0)
US Small Cap 2000
2,020.40
+7.30 (+0.36%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (1)
IBEX 35
8,479.50
+52.50 (+0.62%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (5)
Sell (2)
BASF SE NA O.N.
44.157
+0.097 (+0.22%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (7)
Sell (1)
Bayer AG NA
54.05
+0.49 (+0.91%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (7)
Sell (1)
Allianz SE VNA O.N.
179.40
+0.62 (+0.35%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (9)
Adidas AG
170.63
-2.31 (-1.34%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (9)
Sell (0)
Deutsche Lufthansa AG
6.720
-0.014 (-0.21%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (2)
Sell (4)
Siemens AG Class N
111.38
-0.82 (-0.73%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (7)
Sell (0)
Deutsche Bank AG
8.982
+0.040 (+0.45%)
Summary
NeutralMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (5)
Sell (2)
EUR/USD | 1.0151 | Buy | |||
GBP/USD | 1.2056 | ↑ Buy | |||
USD/JPY | 134.49 | ↑ Sell | |||
AUD/USD | 0.7008 | ↑ Buy | |||
USD/CAD | 1.2891 | Buy | |||
EUR/JPY | 136.54 | Neutral | |||
EUR/CHF | 0.9641 | ↑ Buy |
Gold | 1,789.05 | ↑ Sell | |||
Silver | 19.992 | Buy | |||
Copper | 3.6210 | Neutral | |||
Crude Oil WTI | 89.19 | ↑ Sell | |||
Brent Oil | 94.70 | ↑ Sell | |||
Natural Gas | 9.242 | Neutral | |||
US Coffee C | 222.88 | ↑ Sell |
Euro Stoxx 50 | 3,792.25 | Buy | |||
S&P 500 | 4,297.14 | Neutral | |||
DAX | 13,845.60 | ↑ Buy | |||
FTSE 100 | 7,543.60 | Neutral | |||
Hang Seng | 19,830.52 | ↑ Buy | |||
Small Cap 2000 | 2,020.40 | ↑ Buy | |||
IBEX 35 | 8,479.50 | Neutral |
BASF | 44.157 | Buy | |||
Bayer | 54.05 | ↑ Buy | |||
Allianz | 179.40 | ↑ Sell | |||
Adidas | 170.63 | ↑ Buy | |||
Lufthansa | 6.720 | Neutral | |||
Siemens AG | 111.38 | ↑ Buy | |||
Deutsche Bank AG | 8.982 | Neutral |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 6,580![]() ![]() (-10 ![]() ![]() |
SJC HCM | 6,600![]() ![]() (-10 ![]() ![]() |
SJC Hanoi | 6,600![]() ![]() (-10 ![]() ![]() |
SJC Danang | 6,600![]() ![]() (-10 ![]() ![]() |
SJC Nhatrang | 6,600![]() ![]() (-10 ![]() ![]() |
SJC Cantho | 6,600![]() ![]() (-10 ![]() ![]() |
Cập nhật 16-08-2022 20:11:52 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$1,775.13 | -3.35 | -0.19% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 25.340 | 25.840 |
RON 95-III | 24.660 | 25.150 |
E5 RON 92-II | 23.720 | 24.190 |
DO 0.05S | 22.900 | 23.350 |
DO 0,001S-V | 24.880 | 25.370 |
Dầu hỏa 2-K | 23.320 | 23.780 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $89.19 | -1.34 | -1.50% |
Brent | $94.70 | -0.92 | -0.97% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 23.230,00 | 23.540,00 |
EUR | 23.145,55 | 24.441,71 |
GBP | 27.456,84 | 28.627,78 |
JPY | 171,08 | 181,12 |
KRW | 15,43 | 18,80 |
Cập nhật lúc 18:54:08 16/08/2022 Xem bảng tỷ giá hối đoái |