July 20, 2017 / 11:33 AM / a month ago

Buyout firm Blackstone Q2 earnings grow but miss forecasts

NEW YORK, July 20 (Reuters) - Buyout firm Blackstone Group LP reported slightly lower-than-expected quarterly earnings on Thursday, after strong gains in real estate holdings were offset by a pullback in credit investment performance.

Blackstone said it earned an economic net income (ENI), a key metric for U.S. private equity that accounts for unrealized investment gains or losses, of $705 million in the second quarter, or 59 cents a share.

That translated to a 36 percent increase in ENI compared to a year ago, but was below the 62 cents a share forecast of analysts, according to Thomson Reuters I/B/E/S.

Reporting by Koh Gui Qing; Editing by Bernadette Baum

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