Blackstone quarterly loss widens to $340 million(ZT)# Stock
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SAN FRANCISCO (MarketWatch) -- Blackstone Group reported a wider quarterly
net loss on Thursday as the private-equity giant cut the value of
investments in its private equity, real estate and other funds.
The company said its third-quarter loss widened to $340.3 million, or $1.27
a share, from $113.2 million, or 44 cents a share, in the year-ago period.
Costs from Blackstone's initial public offering last year will likely
produce quarterly net losses for the next five years.
net loss on Thursday as the private-equity giant cut the value of
investments in its private equity, real estate and other funds.
The company said its third-quarter loss widened to $340.3 million, or $1.27
a share, from $113.2 million, or 44 cents a share, in the year-ago period.
Costs from Blackstone's initial public offering last year will likely
produce quarterly net losses for the next five years.
