Blackstone reported full-year 2025 revenue of $14.5 billion, up 9% from the prior year, and fourth-quarter revenue of $4.4 billion, up 42% year over year, driven largely by data center and AI-related investments. The firm also reported distributable earnings of $1.76 billion for the quarter ended March 2026, up 25% year over year from roughly $1.41 billion, with EPS of $1.36 beating analyst estimates. Additionally, Blackstone's GAAP net income for 2025 increased to about $6 billion, up 11.2% from the previous year, supported by record fundraising and exits. In the first quarter of 2026, Blackstone's segment revenue increased 24% year over year, reaching $3.433 billion and exceeding analyst estimates. The firm raised $71.5 billion in fresh capital in the fourth quarter, adding to its assets under management in funds across strategies.