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.

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