Blackstone Inc.
Q3 2022 Earnings Call
Oct 20, 2022, 9:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, everyone, and welcome to the Blackstone third quarter 2022 investor call hosted by Weston Tucker, head of shareholder relations. My name is Ben, and I'm your event manager. [Operator instructions] And now I would like to hand it over to your host. Weston, the floor is yours.
Weston Tucker -- Head of Shareholder Relations
Great. Thanks, Ben, and good morning, everyone, and welcome to Blackstone's third quarter conference call. Joining today are Steve Schwarzman, chairman and CEO; Jon Gray, president and chief operating officer; and Michael Chae, chief financial officer. Earlier this morning, we issued a press release and slide presentation, which are available on our website.
We expect to file our 10-Q report in a few weeks. I'd like to remind you that today's call may include forward-looking statements, which are uncertain and outside of the firm's control and may differ from actual results materially. We do not undertake any duty to update these statements. For a discussion of some of the risks that could affect results, please see the Risk Factors section of our 10-K.
We'll also refer to non-GAAP measures, and you'll find reconciliations in the press release on the shareholders page of our website. Also, please note that nothing on this call constitutes an offer to sell or solicitation of an offer to purchase an interest in any Blackstone fund. This audiocast is copyrighted material of Blackstone and may not be duplicated without consent. On results, we reported GAAP net income for the quarter of $4 million.
Distributable earnings were $1.4 billion or $1.06 per common share, and we declared a dividend of $0.90 per common share, which will be paid to holders of record as of October 31st. With that, I'll turn the call over to Steve.
Steve Schwarzman -- Chairman and Chief Executive Officer
Thank you, Weston. Good morning, and thank you for joining our call. The third quarter of 2022 was a continuation of one of the most difficult periods for markets in decades. Global markets extended the dramatic sell-off to characterize the first half of the year.
The S&P 500 falling another 5%, bringing the year-to-date decline to 24%. The public REIT index was down 10% in just a quarter and 28% year to date. The NASDAQ fell 32% year to date. And in debt markets, high-grade and high-yield bonds declined 14% to 15% in the first nine months of the year.