Filing Flows › Blackstone (BX) › Q2 2026
Blackstone (BX) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Blackstone (BX) reported revenue of $5.0B for the second quarter 2026 (Q2 2026), +36% from a year earlier and +39% from the quarter before. Operating margin was 52.9%, net earnings $1.2B (24.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.0B | +39% | +36% |
| Operating profit | $2.7B | +97% | +50% |
| Net earnings | $1.2B | +89% | +61% |
| Operating cash flow | $1.9B | +96% | +119% |
| Free cash flow | $1.9B | +99% | +125% |
What changed
Revenue was $5.0B in Q2 2026, up 36% year over year and up 39% from the previous quarter.
Operating profit was $2.7B, a 52.9% margin (up 5.0 points year over year). Of the extra revenue versus Q2 2025, 67% reached operating profit, above the 48% margin then. Total costs grew 23% against revenue growth of 36%. The fastest-growing cost line was Other operating costs (+25%). Net earnings were $1.2B, up 61% year over year. The effective tax rate was 16.1%.
Operating cash flow was $1.9B (up 119% year over year), 82% of net income including minority interests. Non-cash charges added back $0.35B of share-based compensation. Working capital and other items used $0.77B. Capital expenditures of $0.03B left free cash flow of $1.9B.
Questions
What was Blackstone's revenue in the second quarter 2026?
Blackstone (BX) reported revenue of $5.0B for the second quarter 2026 (Q2 2026), +36% from a year earlier and +39% from the quarter before.
Was Blackstone profitable in the second quarter 2026?
Operating profit was $2.7B (52.9% of revenue) and net earnings $1.2B.
Source: Blackstone 10-Q on SEC EDGAR.