Analyst Consensus ?
ConsensusBuy30 ratings
Bullish1963.3%
Neutral1033.3%
Bearish13.4%
Blackstone Inc. · BX · FY2026 Q2 · Calendar Q3 2026
Blackstone Beats on AI-Driven Inflows, AUM Hits Record $1.35 Trillion
Blackstone's Q2 2026 results extend the firm's AI-inflected growth story: distributable earnings rose 26% year over year to $2 billion, AUM reached a record $1.35 trillion, and quarterly inflows approached $70 billion. AI-related investments -- particularly data centers, power infrastructure, and frontier AI companies -- drove fee-related earnings and net realizations, with AI holdings accounting for 9 of the 10 largest mark-ups in the quarter. The BX DC REIT ($2 billion, the largest blind-pool REIT IPO in history) and a $35 billion financing platform for Broadcom's AI compute underscore the scale of Blackstone's AI bet. Management maintained guidance and expressed confidence in double-digit management-fee growth and continued fundraising momentum into 2027. The stock reacted positively, with a +2.6% abnormal move on the event session and +6.7% subsequent drift, though analyst…
Reported Before market openNYSEFinancial Services
$160.14B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.52
Consensus $1.34
EPS surprise
+13.4%
Reported versus consensus
Reported revenue
$3.80B
Consensus $3.42B
Revenue surprise
+11.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.4%
Event window
SPY move
-1.2%
Same window
Abnormal move
+2.6%
Stock minus SPY
Volume
1.8×
Versus trailing sessions
Subsequent drift
+6.9%
Up to 20 sessions
BXSPY benchmark
Ask FN2 about BX FY2026 Q2
Transcript, numbers and history already loaded
Why did BX rise 1.4% after beating EPS estimates in FY2026 Q2?What changed in BX's guidance and outlook in FY2026 Q2?Give me the bull and bear case for BX after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Versus Q1 2026 (AUM $1.3T, distributable earnings $1.8B), Q2 2026 delivered further expansion across all metrics: AUM grew 11% to $1.35T, distributable earnings rose 26% YoY to $2B, and fee-related earnings increased more than 20% across all business lines with transaction fees hitting a record $321 million. Quarterly inflows nearly reached $70 billion. The firm launched the BX DC REIT ($2 billion, largest blind-pool REIT IPO), partnered with Google on a $5 billion Neo Cloud AI platform, announced a $35 billion Broadcom AI compute financing platform (the largest private-credit investment ever), and deepened AI-focused ventures including an Anthropic-backed company. New partnerships with Nippon Life ($10 billion private-credit) and expanded Wellington/Vanguard distribution further broaden the firm's reach.
Guidance delta
Management maintained guidance sentiment from Q1 2026, reiterating confidence in double-digit management-fee growth and continued fundraising momentum into 2027. No formal guidance was raised or lowered. Tone remained confident, consistent with the prior quarter's posture.
Key takeaways
- AI and data-center investments are now core growth engines delivering higher earnings and AUM.
- Record quarterly inflows of nearly $70 billion and 11% AUM growth to $1.35 trillion.
- Fee-related earnings rose over 20% across all business lines, with transaction fees hitting a record $321 million.
- New product launches and strategic partnerships (Google, Anthropic, Nippon Life, Wellington/Vanguard) expand market reach.
- Management projects double-digit management-fee growth and continued fundraising momentum into 2027.
Management priorities
- Scale the Neo Cloud AI platform and pursue additional AI infrastructure investments.
- Launch BXHF, a new perpetual multi-strategy hedge fund, later in summer.
- Expand the partnership with Wellington and Vanguard to add more private-market products.
- Continue building AI-centric companies, including the Anthropic-backed venture Ode.
- Further increase capital deployment in infrastructure, energy transition, and data-center assets.
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Analyst 52W Price Targets
$119.06Current
$85Low
$138.26Average
$184High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 27, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Neutral | Neutral | Maintain | Oct 23, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Oct 23, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Oct 23, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 23, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 12, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Oct 8, 2026 |
| Argus Research | Buy | Buy | Maintain | Jul 30, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 24, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Jul 24, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 13, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Jul 9, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Apr 21, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Mar 24, 2026 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Oct 24, 2025 |
| Citigroup | Neutral | Neutral | Maintain | Oct 13, 2025 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jul 25, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Jul 25, 2025 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 11, 2025 |
| B of A Securities | Buy | Buy | Maintain | Apr 21, 2025 |
| Credit Suisse | Underperform | Underperform | Maintain | Apr 21, 2023 |
| Exane BNP Paribas | Neutral | Outperform | Downgrade | Apr 7, 2022 |
| Susquehanna | Outperform | Positive | Maintain | Nov 25, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Nov 25, 2020 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Nov 25, 2020 |
| Jefferies | Buy | Buy | Maintain | Nov 25, 2020 |
| Citi | Neutral | Buy | Downgrade | Nov 25, 2020 |
| Bank of America | Buy | Buy | Maintain | Nov 25, 2020 |
| Argus | Buy | Buy | Maintain | Nov 25, 2020 |
| Stifel | Buy | Buy | Maintain | Apr 19, 2013 |
| Sterne Agee | Buy | Buy | Maintain | May 23, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $119.06. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Michael Brown | $118 | $116.76 | -0.9% | Oct 23, 2026 |
| Oppenheimer | Analyst unavailable | $168 | $118.75 | +41.1% | Oct 23, 2026 |
| Piper Sandler | Analyst unavailable | $126 | $118.75 | +5.8% | Oct 23, 2026 |
| Credit Suisse | Analyst unavailable | $165 | $118.75 | +38.6% | Oct 23, 2026 |
| Goldman Sachs | Alexander Blostein | $128 | $114.69 | +7.5% | Oct 22, 2026 |
| BMO Capital | Brennan Hawken | $130 | $109.92 | +9.2% | Oct 21, 2026 |
| Piper Sandler | Crispin Love | $125 | $106.63 | +5.0% | Oct 19, 2026 |
| Morgan Stanley | Michael Cyprys | $165 | $109.82 | +38.6% | Oct 16, 2026 |
| Barclays | Analyst unavailable | $124 | $111.8 | +4.1% | Oct 8, 2026 |
| UBS | Michael Brown | $122 | $119.35 | +2.5% | Sep 23, 2026 |
| Argus Research | Analyst unavailable | $150 | $127.66 | +26.0% | Jul 30, 2026 |
| RBC Capital | Analyst unavailable | $169 | $128.65 | +41.9% | Jul 24, 2026 |
| Oppenheimer | Analyst unavailable | $140 | $126.03 | +17.6% | Jul 24, 2026 |
| Goldman Sachs | Alexander Blostein | $127 | $124.49 | +6.7% | Jul 24, 2026 |
| Barclays | Benjamin Budish | $128 | $124.49 | +7.5% | Jul 24, 2026 |
| HSBC | Analyst unavailable | $135 | $126.89 | +13.4% | Jul 20, 2026 |
| Barclays | Analyst unavailable | $119 | $121 | -0.1% | Jul 9, 2026 |
| Piper Sandler | Analyst unavailable | $130 | $121.66 | +9.2% | Apr 27, 2026 |
| RBC Capital | Analyst unavailable | $173 | $121.76 | +45.3% | Apr 24, 2026 |
| Oppenheimer | Analyst unavailable | $156 | $122.33 | +31.0% | Apr 24, 2026 |
| Morgan Stanley | Analyst unavailable | $184 | $132.71 | +54.5% | Apr 21, 2026 |
| Evercore ISI | Analyst unavailable | $150 | $132.76 | +26.0% | Apr 21, 2026 |
| RBC Capital | Bart Dziarski | $179 | $113.71 | +50.3% | Feb 23, 2026 |
| UBS | Michael Brown | $137 | $123.64 | +15.1% | Feb 20, 2026 |
| Piper Sandler | Analyst unavailable | $158 | $142.42 | +32.7% | Feb 2, 2026 |
| UBS | Analyst unavailable | $171 | $141.49 | +43.6% | Jan 30, 2026 |
| RBC Capital | Analyst unavailable | $195 | $142.94 | +63.8% | Jan 30, 2026 |
| Barclays | Analyst unavailable | $164 | $142.94 | +37.7% | Jan 30, 2026 |
| UBS | Michael Brown | $172 | $155.59 | +44.5% | Jan 13, 2026 |
| Barclays | Benjamin Budish | $172 | $154.1 | +44.5% | Dec 12, 2025 |
| UBS | Michael Brown | $175 | $156.6 | +47.0% | Dec 11, 2025 |
| Piper Sandler | Crispin Love | $168 | $154.98 | +41.1% | Oct 24, 2025 |
| Deutsche Bank | Brian Bedell | $166 | $156.69 | +39.4% | Oct 24, 2025 |
| Morgan Stanley | Analyst unavailable | $215 | $161.62 | +80.6% | Oct 21, 2025 |
| Piper Sandler | Analyst unavailable | $173 | $162.46 | +45.3% | Oct 9, 2025 |
| Barclays | Analyst unavailable | $171 | $164.91 | +43.6% | Oct 8, 2025 |
| Barclays | Benjamin Budish | $192 | $171.34 | +61.3% | Jan 13, 2025 |
| Evercore ISI | Glenn Schorr | $181 | $169.73 | +52.0% | Oct 18, 2024 |
| BMO Capital | Etinenne Ricard | $134 | $169.73 | +12.5% | Oct 18, 2024 |
| Goldman Sachs | Alexander Blostein | $150 | $169.73 | +26.0% | Oct 18, 2024 |
| Evercore ISI | Glenn Schorr | $155 | $153.04 | +30.2% | Oct 14, 2024 |
| Barclays | Benjamin Budish | $155 | $151.92 | +30.2% | Oct 7, 2024 |
| BMO Capital | Etinenne Ricard | $112 | $138.59 | -5.9% | Jul 19, 2024 |
| Piper Sandler | Crispin Love | $149 | $136.41 | +25.1% | Jul 19, 2024 |
| Barclays | Benjamin Budish | $126 | $121.28 | +5.8% | Jul 10, 2024 |
| Goldman Sachs | Alexander Blostein | $123 | $119.01 | +3.3% | Apr 19, 2024 |
| BMO Capital | Etinenne Ricard | $110 | $120.62 | -7.6% | Apr 19, 2024 |
| Deutsche Bank | Brian Bedell | $138 | $120.32 | +15.9% | Apr 19, 2024 |
| Piper Sandler | Crispin Love | $146 | $132 | +22.6% | Apr 10, 2024 |
| Barclays | Benjamin Budish | $129 | $129.87 | +8.3% | Apr 8, 2024 |
| Deutsche Bank | Brian Bedell | $142 | $126.01 | +19.3% | Apr 5, 2024 |
| Loop Capital Markets | Étienne Ricard | $101 | $124.54 | -15.2% | Jan 26, 2024 |
| Evercore ISI | Glenn Schorr | $117 | $107.51 | -1.7% | Jul 21, 2023 |
| Oppenheimer | Chris Kotowski | $111 | $83.4 | -6.8% | Apr 13, 2023 |
| Barclays | Analyst unavailable | $86 | $83.94 | -27.8% | Jan 12, 2023 |
| Wells Fargo | Analyst unavailable | $95 | $80.53 | -20.2% | Jan 11, 2023 |
| BMO Capital | Analyst unavailable | $85 | $78.01 | -28.6% | Jan 5, 2023 |
| Goldman Sachs | Analyst unavailable | $86 | $77.16 | -27.8% | Jan 4, 2023 |
| Piper Sandler | Analyst unavailable | $111 | $73.09 | -6.8% | Dec 21, 2022 |
| Barclays | Analyst unavailable | $80 | $75.39 | -32.8% | Dec 19, 2022 |
| BMO Capital | Analyst unavailable | $90 | $85.16 | -24.4% | Dec 5, 2022 |
| Barclays | Analyst unavailable | $90 | $85.04 | -24.4% | Dec 2, 2022 |
| BMO Capital | Analyst unavailable | $109 | $88.48 | -8.4% | Nov 23, 2022 |
| Deutsche Bank | Analyst unavailable | $128 | $99.61 | +7.5% | Nov 15, 2022 |
| Goldman Sachs | Analyst unavailable | $101 | $83.7 | -15.2% | Oct 3, 2022 |
| Deutsche Bank | Analyst unavailable | $153 | $108.34 | +28.5% | Aug 12, 2022 |
| Deutsche Bank | Analyst unavailable | $147 | $91.4 | +23.5% | Jul 13, 2022 |
| Wells Fargo | Analyst unavailable | $101 | $89.66 | -15.2% | Jul 13, 2022 |
| Goldman Sachs | Analyst unavailable | $112 | $91.07 | -5.9% | Jun 29, 2022 |
| Deutsche Bank | Brian Bedell | $180 | $107.57 | +51.2% | May 22, 2022 |
| BMO Capital | James Fotheringham | $142 | $107.28 | +19.3% | Apr 27, 2022 |
| Jefferies | Gerald O’Hara | $155 | $108.11 | +30.2% | Apr 26, 2022 |
| Deutsche Bank | Brian Bedell | $182 | $110.59 | +52.9% | Apr 24, 2022 |
| Morgan Stanley | Analyst unavailable | $154 | $120.24 | +29.3% | Apr 20, 2022 |
| Wells Fargo | Analyst unavailable | $120 | $117.02 | +0.8% | Apr 19, 2022 |
| Citigroup | William Katz | $117 | $112.98 | -1.7% | Apr 16, 2022 |
| Deutsche Bank | Brian Bedell | $186 | $112.8 | +56.2% | Apr 11, 2022 |
| Goldman Sachs | Alexander Blostein | $160 | $132.25 | +34.4% | Feb 6, 2022 |
| Bank of America Securities | Craig Siegenthaler | $170 | $124.28 | +42.8% | Jan 30, 2022 |
| Wells Fargo | Finian O'Shea | $122 | $112.69 | +2.5% | Jan 18, 2022 |
| Citigroup | William Katz | $120 | $121.02 | +0.8% | Jan 12, 2022 |
| Argus Research | Stephen Biggar | $163 | $133.96 | +36.9% | Oct 27, 2021 |
| BMO Capital | James Fotheringham | $114 | $135.08 | -4.2% | Oct 22, 2021 |
| UBS | Adam Beatty | $135 | $125.2 | +13.4% | Sep 21, 2021 |
| Barclays | Jeremy Campbell | $95 | $84.31 | -20.2% | Apr 23, 2021 |
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Start freeCompany context
Snapshot as of publicationBlackstone Inc. operates as a prominent alternative asset manager, specializing in a broad spectrum of investment strategies. Its expertise encompasses real estate, private equity, credit solutions, comprehensive hedge fund offerings, public debt and equity, multi-asset class approaches, and secondary funds of funds. While often backing nascent businesses, the firm also extends its services to capital markets. Its real estate division targets diverse opportunities: high-potential opportunistic ventures, core-plus assets, and stable, income-generating commercial properties. Additionally, it engages in debt investments secured by commercial real estate. These activities span North America, Europe, and Asia. Blackstone's global private equity arm executes varied transactions, including substantial buyouts, mid-market acquisitions, special situations, and distressed mortgage loans.…
Historical context
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Latest beats and misses
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- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
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Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
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Sources
- Earnings call transcript and parsed analysis · 2026-07-23T16:05:27.936103+00:00
- FN2 earnings calendar · 2026-07-28T01:23:15.070317+00:00
- Polygon adjusted daily market bars · 2026-07-28T17:11:55.657044+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T17:11:55.654045+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-07-28. For educational purposes only; not investment advice.