Blackstone shares rise in pre-market after earnings beat estimates

Blackstone Inc. BX, +3.95% shares roseate 3.4% successful pre-market trades connected Thursday aft the private-equity steadfast said its third-quarter nett income roseate to $1.4 billion, oregon $1.94 a share, from $794.7 million, oregon $1.13 a share, successful the year-ago quarter. Distributable net accrued to $1.64 billion, oregon $1.28 a share, from $772.1 million, oregon 63 cents a share, successful the year-ago quarter. Analysts expected Blackstone to gain 89 cents a share, according to a survey by FactSet. Total assets nether absorption roseate 25% to $730.7 billion. Blackstone volition wage a $1.09 a stock dividend, treble from 54 cents a stock a twelvemonth ago. Prior to Thursday's gains, Blackstone shares are up 98.6% truthful acold this year, outpacing a summation of 20.8% by the S&P 500.