
Blackstone (NYSE:BX) shares surged Thursday after the alternative asset manager announced a powerful second quarter, handily surpassing analyst expectations with a 22% year-over-year (Y/Y) jump in segment revenues.
The strong performance was fueled by a 25% increase in distributable earnings and robust growth across its key business segments, pushing the firm’s total assets under management to a new industry record of over $1.2 trillion.