Filing Flows › Blackstone (BX) › Q3 2026 › vs Q2 2026
Blackstone (BX) Q3 2026 vs Q2 2026 (quarter over quarter)
Blackstone's revenue fell $2.0B (-39%) from $5.0B in Q2 2026 to $3.1B in Q3 2026. Operating margin 46.9% against 52.9% (-6.0 pts).
Blackstone, Q3 2026: revenue $3.1B (-0.8% year over year), operating margin 46.9%, net earnings $662M, operating cash flow $2.0B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 46.9% | 52.9% | -6.0 pts |
| Net margin | 21.6% | 24.4% | -2.7 pts |
| Free cash flow margin | 62.6% | 37.9% | +24.7 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $3.1B | $5.0B | −$2.0B | -39% |
| Other income, net | $93.4M | $140M | −$46.7M | -33% |
| Operating profit | $1.4B | $2.7B | −$1.2B | -46% |
| Costs & expenses | $1.6B | $2.4B | −$750M | -32% |
| Pre-tax earnings | $1.5B | $2.8B | −$1.3B | -45% |
| General & admin | $416M | $409M | $7.2M | +2% |
| Other operating costs | $1.2B | $2.0B | −$758M | -39% |
| Net earnings | $662M | $1.2B | −$567M | -46% |
| Minority interests | $610M | $1.1B | −$517M | -46% |
| Income tax | $259M | $452M | −$194M | -43% |
| Share-based compensation | $330M | $355M | −$24.2M | -7% |
| Working capital & other | $970M | $358M | $613M | +171% |
| Operating cash flow | $2.0B | $1.9B | $21.5M | +1% |
| Free cash flow (OCF − capex) | $1.9B | $1.9B | $7.5M | +0.4% |
| Capital expenditures | $46.0M | $32.0M | $14.0M | +44% |
Questions
How much did Blackstone's revenue grow quarter over quarter in Q3 2026?
Blackstone's revenue fell $2.0B (-39%) from $5.0B in Q2 2026 to $3.1B in Q3 2026. Operating margin 46.9% against 52.9% (-6.0 pts).