Blackstone Inc said on Thursday its second-quarter distributable earnings slumped nearly 40%, owing to a sharp drop in asset sales mostly from its real estate and credit businesses. Distributable earnings, which represent cash used to pay dividends to shareholders, fell to $1.2 billion from nearly $2 billion a year earlier. That resulted in distributable earnings of 93 cents, compared with the average analyst estimate of 92 cents, as compiled by Refinitiv.
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