Blackstone earnings beat forecasts on real estate, energy

[July 21, 2016]  NEW YORK (Reuters) - Blackstone Group LP, the world's largest alternative asset manager, reported higher-than-expected economic net income of 44 cents per share for the second quarter, helped by strong real estate investments and a rebound in energy prices.

Blackstone said on Thursday its second-quarter ENI was up 2 percent from a year earlier. Analysts had expected ENI to fall 9 percent to 39 cents per share from 43 cents.

ENI, a key earnings metric for U.S. private equity firms, accounts for unrealized gains or losses in investments, also known as the mark-to-market value.

(Reporting by Koh Gui Qing; Editing by Lisa Von Ahn)

[© 2016 Thomson Reuters. All rights reserved.]

Copyright 2016 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.