Boston, MA 01/30/2014 (wallstreetpr) – Riding on marked improvements witnessed across most of its revenue streams, American multinational private capital and investment syndicate The Blackstone Group L.P. (NYSE:BX) recently declared a resounding quarter of profitability for its recently ended fourth quarter of fiscal 2013.
Blackstone’s 4Q Earning Report
The Blackstone Group L.P. (NYSE:BX) saw its total revenue for the fourth quarter climb to $2.69 billion from approximately $1.23 billion seen for the corresponding quarter of fiscal 2012, beating analyst predictions of about $1.44 billion. The key contributors cited for the revenue rise were improved performance fees, income emanating from investments, in addition to revenues from interest and dividends, though the equity group did face minor drops in other revenue streams.
For the full fiscal 2013, overall net revenue surged by over 62% to around $6.61 billion from the roughly $4.06 billion observed exactly a year earlier, exceeding consensus analyst estimates, which were around $5.03 billion. Blackstone’s reported economic net income (ENI) of $1.54 billion climbed steeply from the year-ago figure of $670 million, while its full fiscal 2013 net income soared to around $3.51 billion from the roughly $1.99 billion seen for fiscal 2012. Moreover, the Blackstone profits have surfaced despite financial bottlenecks like total expenses skyrocketing over 100% to roughly $1.1 billion as compared to around $542 million seen for the corresponding FY2012 quarter, owing majorly to rise in expenses pertaining to net compensation benefits.
Earnings Per Share Improvement and Dividend Payout
For the full fiscal 2013, Blackstone recorded earnings per share of about $3.07, improving over the $1.77 registered during fiscal 2012 and exceeding the analyst expectations of about $2.51. Furthermore, the New York-based equity and banking conglomerate declared a quarterly dividend distribution of $0.58 a unit, a more than 150% jump over the previous payout, to be affected in February. The Blackstone Group L.P. (NYSE:BX) shares rose to $32.23 in their January 30 trade from their previous $30.93, surging further to $32.75 during the after-hours.
