Q2 26 EPS
$1.52
BEAT +14.28%
Est. $1.33
Q2 26 Revenue
$5.04B
BEAT +50.77%
Est. $3.35B
vs S&P Since Q2 26
+6.7%
BEATING MARKET
BX +11.4% vs S&P +4.8%
Market Reaction
Did BX Beat Earnings? Q2 2026 Results
Blackstone Inc. Delivered a blowout second quarter for 2026, with revenue of $5.04 billion soaring 35.9% year over year and clearing the $3.35 billion consensus estimate by 50.77%, while distributable earnings per share of $1.52 topped the $1.33 anal… Read more Blackstone Inc. Delivered a blowout second quarter for 2026, with revenue of $5.04 billion soaring 35.9% year over year and clearing the $3.35 billion consensus estimate by 50.77%, while distributable earnings per share of $1.52 topped the $1.33 analyst consensus by 14.28%. The driving force behind the outperformance was a sharp surge in performance allocations alongside robust fee-related earnings growth of 22% to $1.78 billion, with management and advisory fees rising 11% to $2.25 billion and fee-related performance revenues jumping 68% to $793.39 million. Total assets under management climbed 11% year over year to $1.35 trillion, powered by nearly $68.30 billion of inflows in the quarter, as CEO Stephen Schwarzman pointed to the firm's positioning around the artificial intelligence megatrend as a key strategic tailwind. Private Equity was the standout segment, with AUM up 17% to $454.15 billion. Blackstone also declared a Q2 dividend of $1.29 per share, a 25% increase year over year, and its portfolio activity included advancing a potential $8 billion IPO for Jersey Mike's.
Key Takeaways
- • Artificial intelligence megatrend driving standout investment performance across strategies
- • Fee Related Earnings grew 22% YoY to $1.8 billion driven by management fee growth and 68% increase in fee-related performance revenues
- • Infrastructure strategy appreciated 7.2% in the quarter and 28.6% over the LTM
- • Corporate Private Equity appreciated 3.7% in the quarter and 14.4% over the LTM
- • Absolute Return Composite returned 5.8% gross in the quarter, outperforming the HFRX Global Hedge Fund Index
- • Nearly $70 billion of inflows in the quarter bringing LTM inflows to $262.5 billion
- • Perpetual Capital AUM reached $555.6 billion, up 15% year-over-year
BX YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
BX Revenue by Segment
With YoY comparisons, source: SEC Filings
“Blackstone delivered an outstanding second quarter, highlighted by strong growth in earnings and nearly $70 billion of inflows. Our decision to lean into the artificial intelligence megatrend is leading to standout investment performance across numerous strategies and creating extraordinary opportunities for growth. We've become a trusted partner at scale to many of the key innovators in this ecosystem, which positions our firm extremely well for the future.”
— Stephen A. Schwarzman, Q2 2026 Earnings Press Release
BX Earnings Trends
BX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BX EPS Trend
Earnings per share: estimate vs actual
BX Revenue Trend
Quarterly revenue: estimate vs actual
BX Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.33 | $1.52 | +14.28% | $5.04B | +50.77% |
| Q1 26 BEAT | $1.34 | $1.36 | +1.51% | $3.62B | +5.47% |
| Q4 25 MISS FY | $1.54 | $1.30 | -15.37% | $4.36B | +18.01% |
| FY Full Year | $5.34 | $3.87 | -27.47% | $14.45B | +12.77% |
| Q3 25 BEAT | $1.23 | $1.52 | +23.83% | $3.09B | -0.71% |
| Q2 25 BEAT | $1.10 | $1.21 | +9.81% | $3.71B | +32.13% |
| Q1 25 BEAT | $1.06 | $1.09 | +2.76% | $3.29B | +20.75% |