The Blackstone Group L.P. (NYSE: BX) has reported earnings this morning, and the initial response is lower. The private equity giant posted a GAAP net loss of $246.7 million after items, and its "economic net income" was also a loss at -$93.6 million.
The company said that its total net reportable segment revenues were $32.3 million, driven down by declines in all business segments from $1.23 billion in 2007. Its GAAP revenues were $68.5 million.
Corporate Private Equity had negative first quarter revenues; Real Estate revenues down 94%; Marketable Alternative Asset Management down 81%; Financial Advisory Revenues decreased 24%
You can look through the entire release, but as the company noted, most business segments were indeed lower.
Interestingly enough, the company now has $113.53 billion in assets under management. It has also decided to make a dividend payment of $0.30.
Shares of Blackstone are down about 4% at $18.70 in pre-market trading.
Blackstone shows losses and declines across the board
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