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Blackstone Exclusive: Q3’s 12% Profit Drop Explained

Blackstone Inc. faced challenges in the third quarter as higher interest rates and a decline in dealmaking impacted its profitability.

Blackstone office crescent stands as a symbol of the challenges faced in Q3 amid rising interest rates and dealmaking slowdown. PHOTO: ALP/Bloomberg
Blackstone office crescent stands as a symbol of the challenges faced in Q3 amid rising interest rates and dealmaking slowdown. PHOTO: ALP/Bloomberg

The company reported a 12% decrease in quarterly profit available to shareholders.

During Q3, Blackstone’s distributable earnings totalled $1.21 billion, equivalent to 94 cents per share. However, this fell short of the average estimate of $1.01 per share from analysts.

This performance was consistent with the previous quarter, where the company

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