Blackstone Reports 33% Revenue Growth to $3.71 Billion in Q2 2025

Blackstone Inc. reported significant financial performance for the second quarter of 2025, with total revenues reaching $3.71 billion, a 33% increase from $2.80 billion in the same period last year. This growth was primarily driven by a substantial rise in investment income, which surged by 131% to $1.61 billion, compared to $696.1 million in Q2 2024. Management and advisory fees also contributed to the revenue increase, climbing 14% to $2.04 billion from $1.79 billion. The company’s net income for the quarter was $1.63 billion, up 72% from $948.4 million a year earlier, resulting in a net income per share of $0.98, compared to $0.58 in Q2 2024.

In the first half of 2025, Blackstone's total revenues amounted to $7.00 billion, an 8% increase from $6.48 billion in the first half of 2024. The company reported net income of $2.83 billion for the six months ended June 30, 2025, compared to $2.54 billion in the prior year. The increase in revenues and profitability was attributed to higher realized and unrealized investment income, particularly in the Private Equity and Credit & Insurance segments, which saw significant appreciation in their respective portfolios.

Operationally, Blackstone's total assets under management (AUM) grew to $1.21 trillion as of June 30, 2025, reflecting a $43.7 billion increase from the previous quarter. This growth was driven by inflows of $52.1 billion and market appreciation of $25.8 billion, offset by realizations of $23.4 billion and outflows of $10.8 billion. The company also reported a rise in fee-earning AUM to $887.1 billion, an increase of $27.0 billion from the previous quarter, indicating strong demand for its investment strategies.

Strategically, Blackstone has continued to expand its investment capabilities, particularly in the Credit & Insurance segment, which has benefited from a high-interest rate environment. The company has also been active in share repurchases, having repurchased 0.4 million shares at a cost of $58.8 million during the first half of 2025. As of June 30, 2025, Blackstone had $1.8 billion remaining under its share repurchase program, which was authorized for up to $2.0 billion.

Looking ahead, Blackstone remains optimistic about its growth trajectory, citing a resilient U.S. economy and improving investor sentiment. However, the company acknowledges potential risks related to ongoing geopolitical tensions and trade negotiations that could impact market conditions. Blackstone's management continues to focus on leveraging its diverse investment strategies to capitalize on market opportunities while managing risks effectively.