Filing Flows › Blackstone (BX) › Q2 2026 › vs Q2 2025
Blackstone (BX) Q2 2026 vs Q2 2025 (year over year)
Blackstone's revenue rose $1.3B (+36%) from $3.7B in Q2 2025 to $5.0B in Q2 2026. Operating margin 52.9% against 47.9% (+5.0 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 52.9% | 47.9% | +5.0 pts |
| Net margin | 24.4% | 20.6% | +3.8 pts |
| Free cash flow margin | 37.9% | 22.9% | +15.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $5.0B | $3.7B | $1.3B | +36% |
| Other income, net | $140M | $136M | $3.8M | +3% |
| Operating profit | $2.7B | $1.8B | $889M | +50% |
| Costs & expenses | $2.4B | $1.9B | $443M | +23% |
| Pre-tax earnings | $2.8B | $1.9B | $893M | +47% |
| General & admin | $409M | $361M | $48.3M | +13% |
| Other operating costs | $2.0B | $1.6B | $395M | +25% |
| Net earnings | $1.2B | $764M | $465M | +61% |
| Minority interests | $1.1B | $862M | $265M | +31% |
| Income tax | $452M | $289M | $163M | +56% |
| Share-based compensation | $355M | $312M | $42.2M | +14% |
| Working capital & other | $358M | −$188M | $546M | — |
| Operating cash flow | $1.9B | $889M | $1.1B | +119% |
| Free cash flow (OCF − capex) | $1.9B | $848M | $1.1B | +125% |
| Capital expenditures | $32.0M | $40.1M | −$8.2M | -20% |
Questions
How much did Blackstone's revenue grow year over year in Q2 2026?
Blackstone's revenue rose $1.3B (+36%) from $3.7B in Q2 2025 to $5.0B in Q2 2026. Operating margin 52.9% against 47.9% (+5.0 pts).