From RTTNews:

Blackstone (BX) reported a sharp decline in fourth-quarter net income to $151.8 million from $557.8 million, last year. Net income per share dropped to $0.20 compared to $0.75, with analysts expecting $0.96 per share. Total revenues also decreased to $1.28 billion from $1.70 billion, with total segment revenues at $2.53 billion.

The company’s CEO, Stephen Schwarzman, stated that Blackstone is well positioned for the future with nearly $200 billion of dry powder capital to invest. Total AUM increased to $1.04 trillion, up 7% year-over-year, with fee-earning AUM at $762.6 billion. Blackstone also declared a quarterly dividend of $0.94 per share, to be paid on February 12, 2024.

Shares of Blackstone are up 2% in pre-market trade on Thursday. The company had $8.4 billion in total cash, cash equivalents, corporate treasury, and other investments, as well as $16.9 billion of cash and net investments at the end of 2023.

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