Filing Flows › Blackstone (BX) › Q2 2026 › vs Q1 2026
Blackstone (BX) Q2 2026 vs Q1 2026 (quarter over quarter)
Blackstone's revenue rose $1.4B (+39%) from $3.6B in Q1 2026 to $5.0B in Q2 2026. Operating margin 52.9% against 37.5% (+15.4 pts).
Blackstone, Q2 2026: revenue $5.0B (+36% year over year), operating margin 52.9%, net earnings $1.2B, operating cash flow $1.9B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 52.9% | 37.5% | +15.4 pts |
| Net margin | 24.4% | 18.0% | +6.4 pts |
| Free cash flow margin | 37.9% | 26.5% | +11.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $5.0B | $3.6B | $1.4B | +39% |
| Other income, net | $140M | $99.8M | $40.3M | +40% |
| Operating profit | $2.7B | $1.4B | $1.3B | +97% |
| Costs & expenses | $2.4B | $2.3B | $113M | +5% |
| Pre-tax earnings | $2.8B | $1.5B | $1.4B | +93% |
| General & admin | $409M | $373M | $36.3M | +10% |
| Other operating costs | $2.0B | $1.9B | $77.0M | +4% |
| Net earnings | $1.2B | $650M | $579M | +89% |
| Minority interests | $1.1B | $608M | $519M | +85% |
| Income tax | $452M | $197M | $255M | +129% |
| Share-based compensation | $355M | $561M | −$206M | -37% |
| Working capital & other | $358M | −$220M | $577M | — |
| Operating cash flow | $1.9B | $991M | $950M | +96% |
| Free cash flow (OCF − capex) | $1.9B | $958M | $952M | +99% |
| Capital expenditures | $32.0M | $33.4M | −$1.4M | -4% |
Questions
How much did Blackstone's revenue grow quarter over quarter in Q2 2026?
Blackstone's revenue rose $1.4B (+39%) from $3.6B in Q1 2026 to $5.0B in Q2 2026. Operating margin 52.9% against 37.5% (+15.4 pts).