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Blackstone Group Reports Losses in Q3

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Published on 22/10/11 - Updated on 17/03/22

The Blackstone Group L.P., which owns Hilton Worldwide, reported that its third-quarter net loss attributable to the company widened to $274.57 million or $0.56 per unit, from $44.36 million or $0.12 per unit in the same quarter last year.

Economic net loss was $342 million for the third quarter of 2011, compared to Economic net income of $339 million for the third quarter of 2010. Economic Net loss was $0.31 per share, compared to Economic net income of $0.31 per share in the year ago quarter.Total negative revenues were $124.08 million, compared to total positive revenues of $784.00 million in the year ago quarter.Distributable Earnings were $120 million for the third quarter of 2011, down from $166 million in the third quarter of 2010.The Blackstone Group L.P. has declared a quarterly distribution of $0.10 per common unit to record holders of common units at the close of business on November 15, 2011. This distribution will be paid on November 30, 2011.Fee-Earning Assets Under Management increased 27% to a record $133 billion at September 30, 2011, from $104 billion at September 30, 2010, while Total Assets Under Management increased 32% to $158 billion at September 30, 2011.Total negative revenues were $124.08 million, compared to total positive revenues of $784.00 million in the year ago quarter.

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