$BX 8-K earnings — Q2 FY26

Blackstone reported Q2 EPS of $1.29, beating consensus of $1.18 by $0.11 (+9.3%). Revenue surged on record $70B inflows, with AUM crossing $1.3T, signaling strong demand across strategies. The market may miss that the beat was driven by operating earnings from AI-related investments, not one-time gains, with fee-related earnings showing durable margin expansion.

EPS beat by 10.3% on record $70B inflows and AI-driven earnings, AUM $1.3T.