Blackstone Profit Down On Big IPO Charge

Nov 12 2007 | 10:36am ET

The Blackstone Group swung to a third-quarter loss after taking a big charge relating to its initial public offering this summer.

Overall, revenue grew 14% to $526.7 million, as three of its four divisions enjoyed revenue spikes, but an $802.6 million non-cash charge—due to compensation costs from IPO unit awards, as well as amortization of intangibles—sent the private equity giant to a $113.2 million loss in the quarter. The company said it made a $372.5 million profit in the year-ago period, when it was still a private concern.


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Publisher's Note

    Hedge Funds Care Gala Raises $2 Million For Charity

    Mar 10 2014 | 11:33am ET

    A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…