The Blackstone Group L.P. (BX) Crushes Earnings Estimates

The Blackstone Group L.P. (NYSE:BX) released its earnings report for the three months ending June 30 this morning before the market opened. The company showed earnings of $0.62 per share for the period on revenue of $1.43 billion. The Blackstone Group L.P. (NYSE:BX) stock closed at $21.96 per share on yesterday’s market.

In anticipation of this earnings report, analysts were looking for earnings per share of 52 cents on revenues totaling $1.22 billion. In the same three months of 2012 the company earned just 19 cents per share on revenue of $644 million. Before this...