Shares of private-equity fund Blackstone Group Inc. (BX) – Get Report shares were rising Thursday after the company reported second-quarter earnings that topped estimates and the firm saw record appreciation in the value of its investments.
The New York-based company reported second-quarter net income of $1.31 billion, or $1.82 a share, compared with a profit of $568.3 million, or 81 cents a year ago. The firm reported revenue of $5.3 billion, more than double what it did a year ago.
