Blackstone’s profits exceed expectations, predicts IPOs will have their “best year in history”
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As the US stock market rises and artificial intelligence companies prepare to go public, President Jon Gray expects the company to have "the best IPO year ever." In a statement released by BlackRock on Thursday, the company said that in the three months ending in March, distributable earnings (profits available for shareholders) increased by 25% to $1.76 billion, or $1.36 per share, exceeding the expected value of $1.34 per share.
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