Blackstone (BX): Revenue Surpasses Estimates, Profit Misses; Key Q&A Highlights AI and Fundraising

Blackstone (BX) reported revenue exceeding expectations but profit missed guidance as institutional, private wealth, and insurance inflows outperformed, offset by higher costs and a less favorable fee mix. CFO Michael Chae said base management fees in real estate declined, pressuring earnings. Analysts will closely watch the trajectory of new fundraising and the speed at which new funds begin earning fees, as well as Blackstone’s expansion and monetization of AI and infrastructure themes. Recovery in real estate management fees, execution of new product launches, and continued outperformance in credit and infrastructure will be key metrics. BX closed at $135.15, down from $146.79 before the earnings. The stock trades at a 244% five-year return multiple for High Quality picks as of June 30, 2025, including Nvidia and Tecnoglass.