Blackstone’s BX third-quarter 2019 distributable earnings of 58 cents surpassed the Zacks Consensus Estimate of 54 cents. However, the figure declined from 63 cents earned in the prior-year quarter.Shares of Blackstone gained nearly 1.9% in pre-market trading, indicating that investors have taken the results in their stride. However, the full day’s trading will depict a better picture of the actual price performance.Results benefited from growth in assets under management (AUM) and lower expenses. However, a decline in revenues acted as a headwind.Net income attributable to Blackstone was $779.4 million, up from $442.7 million in the year-ago quarter.Revenues & Costs Decline, AUM ImprovesTotal segment revenues for the reported quarter were $1.37 billion, down nearly 5.2% year over year. However, the top line surpassed the Zacks Consensus Estimate of $1.34 billion.Total revenues on a GAAP basis declined 9.9% year over year to $1.74 billion.Total expenses (GAAP basis) dipped 6.9% year over year to $947.2 million due to a decline in total compensation and benefits costs.Fee-earning AUM grew 15.2% year over year to $394.14 billion. Total AUM amounted to $554.02 billion as of Sep 30, 2019, up 21.3% year over year. The rise in total AUM was largely driven by $20.4 billion of inflows.As of Sep 30, 2019, Blackstone had $5.6 billion in total cash, cash equivalents and corporate treasury investments, and $11.6 billion in cash and net investments.Share Repurchase UpdateThe company repurchased 2.8 million shares in the reported quarter.Our ViewpointBlackstone delivered decent performance in the third quarter. Growth in AUM, driven by inflows, is expected to aid its top line in the near term. Moreover, the company is well-positioned to capitalize on the changing investment landscape by making long-term investments and augmenting fund-raising abilities. However, lower chances of sustainability of its capital deployment activities remain a major near-term concern.Price, Consensus and EPS Surprise price-consensus-eps-surprise-chart | QuoteCurrently, Blackstone carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance of Other Finance StocksWashington Federal’s WAFD fourth-quarter fiscal 2019 (ended Sep 30) earnings of 66 cents per share were in line with the Zacks Consensus Estimate. The figure grew 6.5% year over year.Hancock Whitney Corporation’s HWC third-quarter 2019 adjusted earnings per share of $1.03 surpassed the Zacks Consensus Estimate of $1.01. The bottom line was 2% higher than the year-ago figure.Ally Financial Inc’s ALLY third-quarter 2019 adjusted earnings of $1.01 per share surpassed the Zacks Consensus Estimate of 98 cents. The bottom line was 11% higher than the year-ago quarter figure.Wall Street’s Next AmazonZacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.Click for details >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Washington Federal, Inc. (WAFD): Free Stock Analysis Report Ally Financial Inc. (ALLY): Free Stock Analysis Report Blackstone Group Inc/The (BX): Free Stock Analysis Report Hancock Whitney Corporation (HWC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research