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Blackstone Mortgage Trust, Inc.(BXMT), a leading real estate finance company , has released its consolidated financial statements for the second quarter of 2023. The company reported strong financial performance, with a notable increase in net income and revenue.
Financial Statements Overview
As of June 30, 2023, Blackstone Mortgage Trust's total assets amounted to $24.86 billion, a slight decrease from $25.35 billion recorded at the end of 2022. Notably, cash and cash equivalents witnessed a significant rise from $291.34 million to $482.86 million during the same period. Loans receivable, net, also saw a marginal decrease from $24.69 billion to $24.12 billion.
Consolidated Statements of Operations
For the three months ended June 30, 2023, the company reported income from loans and other investments amounting to $177.3 million, showing growth compared to $147.1 million in the same period last year. The net income for Q2 2023 reached $102.5 million, an increase from $93.9 million in Q2 2022.
Consolidated Statements of Comprehensive Income
During the second quarter of 2023, Blackstone Mortgage Trust achieved comprehensive income of $105.4 million, compared to $92.3 million in the same quarter last year.
Consolidated Statements of Changes in Equity
The stockholders' equity for Blackstone Mortgage Trust, Inc. stood at $4.54 billion as of June 30, 2023, representing a slight growth from $4.52 billion on December 31, 2022.
Consolidated Statements of Cash Flows
For the six months ended June 30, 2023, the company reported net cash provided by operating activities of $238.1 million, an increase compared to $183.6 million during the same period in 2022.
Blackstone Mortgage Trust, Inc. has demonstrated strong financial performance in the second quarter of 2023, reporting an increase in net income and revenue. With its continued focus on real estate finance and prudent management, the company remains well-positioned in the market.