India, July 24 -- Alternative asset manager Blackstone Inc. (BX) reported Thursday higher profit and revenues in its second quarter, above market estimates, amid significant growth in assets under management.
In the pre-market activity on the NYSE, Blackstone shares were gaining around 2.5 percent to trade at $176.25.
Net income attributable to the company grew to $764.24 million from last year's $444.41 million. Earnings per share were $0.98, higher than $0.58 a year ago.
Distributable earnings per share were $1.21, compared to $0.96 last year.
Total Revenues increased to $3.71 billion from $2.80 billion in the prior year.
The Wall Street analysts on average expected the company to report earnings of $1.10 per share on revenues of $2....