BX's Q3 Earnings Beat as AUM Touches Record High on Solid Inflows

Blackstone’s BX third-quarter 2025 distributable earnings of $1.52 per share surpassed the Zacks Consensus Estimate of $1.22. The figure soared 50% from the prior-year quarter.

Results benefited from higher segment revenues and a rise in assets under management (AUM) balance. Further, a decrease in GAAP expenses was a positive.

Net income attributable to Blackstone was $624.7 million, down 20% from the year-ago quarter.

BX’s Segment Revenues Increase, GAAP Expenses Fall

Total segment revenues for the reported quarter were $3.3 billion, which jumped 36% year over year. The top line beat the Zacks Consensus Estimate of $3.11 billion. On a GAAP basis, revenues were $3.09 billion, falling 16%.

Total expenses (GAAP basis) were $1.75 billion, which declined 8% year over year.

As of Sept. 30, 2025, Blackstone had $11.1 billion in total cash, cash equivalents and corporate treasury investments, and $20.9 billion in cash and net investments. The company has a $3.8-billion undrawn credit revolver.

Blackstone’s AUM Balance Rises

Fee-earning AUM grew 10% year over year to $906.2 billion as of Sept. 30, 2025.

The total AUM amounted to $1.24 trillion, up 12%. The rise in total AUM was primarily driven by $54.2 billion in inflows in the reported quarter.

As of Sept. 30, 2025, the undrawn capital available for investment was $188.1 billion.

BX’s Share Repurchase Update

During the reported quarter, Blackstone repurchased 0.2 million shares. 

As of Sept. 30, 2025, $1.7 billion worth of buyback authorization remained available.

Our Take on Blackstone

Blackstone is well-positioned for top-line growth, supported by a continuous rise in AUM. The company is expected to keep gaining from its fundraising ability. However, high expenses and a challenging operating backdrop are likely to hurt the bottom line in the near term.
 

Blackstone Inc. Price, Consensus and EPS Surprise

Blackstone Inc. price-consensus-eps-surprise-chart | Blackstone Inc. Quote

Currently, Blackstone carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Stong Buy) stocks here.

Performance & Earnings Release Date of Blackstone’s Peers

BlackRock’s BLK third-quarter 2025 adjusted earnings of $11.55 per share handily surpassed the Zacks Consensus Estimate of $11.25. The figure reflects a marginal rise from the year-ago quarter.

BLK’s results benefited from a rise in revenues. The AUM balance witnessed robust growth, reaching a record high of $13.46 trillion, driven by net inflows. However, higher expenses acted as a headwind.

Invesco IVZ is scheduled to announce third-quarter 2025 numbers on Oct. 28.

Over the past 30 days, the Zacks Consensus Estimate for IVZ’s quarterly earnings has been revised 2.3% higher to 45 cents. The figure implies a rise of 2.3% from the prior-year quarter.

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This article originally published on Zacks Investment Research (zacks.com).

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