Blackstone (BX) Earnings: A Walk-Off Home Run
August 13, 2007 by Douglas A. McIntyreBlackstone’s (BX) earnings tripled and the stock is up almost 10% in the pre-market. Net income hit $774 million up from $224 million a year ago.
The earnings were more than a normal quarterly report. The figures are a vindication for the firm that went public earlier this year and watched its shares drop from $38 to $22.76, humiliating CEO Steve Schwartzman and his staff.
The crisis in LBO and private equity debt has taken its toll on the ability of firms like Blackstone to syndicate the huge pools of debt that they take on with deals.
In the light of the summer’s financial markets problems, the real numbers to watch will be BX Q3.
Douglas A. McIntyre
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.