Shares of Blackstone BX gained 3%, following the release of its third-quarter 2021 results. Distributable earnings of $1.28 per share comfortably surpassed the Zacks Consensus Estimate of 93 cents. The figure reflects a significant rise from 63 cents recorded in the prior-year quarter.Results for the quarter primarily benefited from a significant improvement in revenues. A rise in assets under management (AUM) balance, mainly driven by inflows, was another positive for the company. However, higher operating expenses were the undermining factor.Net income attributable to Blackstone was $1.40 billion, up from $794.7 million recorded in the year-ago quarter.Segment Revenues Improve, Expenses RiseTotal quarterly segment revenues were $3.04 billion, up significantly year over year. The reported figure surpassed the Zacks Consensus Estimate of $2.22 billion. On a GAAP basis, revenues were $6.22 billion, up significantly from $3.03 billion reported in the prior-year quarter.Total expenses (GAAP basis) were $2.65 billion, increasing 99.1% from the year-ago quarter. A rise in all expense components, except for fund expenses, led to the increase.As of Sep 30, 2021, Blackstone had $8.2 billion in total cash, cash equivalents and corporate treasury investments as well as $18.4 billion in cash and net investments. Further, the company has a $2.3-BILLION undrawn credit revolver.AUM ImprovesFee-earning AUM grew 18.9% year over year to $528.41 billion as of Sep 30, 2021. Total AUM amounted to $730.66 billion as of the same date, up 25% year over year. The rise in total AUM was largely driven by $46.7 billion of inflows.As of Sep 30, 2021, undrawn capital available for investment was $127.2 billion.Our TakeBlackstone remains well-poised for top-line growth, supported by a continued rise in AUM. The company is expected to keep gaining from its fund-raising ability. However, elevated expenses are expected to hamper the bottom line to an extent in the near term.Blackstone Inc. Price, Consensus and EPS Surprise Blackstone Inc. price-consensus-eps-surprise-chart | Blackstone Inc. 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 & Upcoming Release Dates of Other Investment ManagersBlackRock, Inc.’s BLK third-quarter 2021 adjusted earnings of $10.95 per share outpaced the Zacks Consensus Estimate of $9.63. The figure reflects a rise of 18.8% from the year-ago quarter’s number.Ameriprise Financial, Inc. AMP and Invesco Ltd. IVZ will release quarterly numbers on Oct 26. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. You know this company from its past glory days, but few would expect that it's poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks' Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>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 Blackstone Inc. (BX): Free Stock Analysis Report BlackRock, Inc. (BLK): Free Stock Analysis Report Invesco Ltd. (IVZ): Free Stock Analysis Report Ameriprise Financial, Inc. (AMP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research