Blackstone (NYSE:BX) reported Q2 distributable earnings of $0.93 per share, down from $1.49 a year earlier.
Analysts polled by Capital IQ expected $0.92 per share.
Total revenue for the quarter ended June 30 was $2.81 billion, up from $629.2 million a year earlier. Four out of seven analysts surveyed by Capital IQ expected $2.40 billion.
The board lowered the quarterly dividend to $0.79 per share from $0.82, payable on Aug. 7 to shareholders as of July 31.