Summary of Quarterly Results of Operations

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operations

18. SUMMARY OF QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following is a summary of the unaudited quarterly results of operations for the years ended December 31, 2014, 2013, and 2012 ($ in thousands except per share data):

	March 31			June 30		September 30		December 31
2014
Revenues(1)	$	33,656		$	42,466	$	50,386	$	58,258
Net income	$	13,116		$	38,439	$	23,601	$	25,338
Net income attributable to
Blackstone Mortgage Trust, Inc.	$	13,065		$	33,466	$	22,024	$	21,490
Net income per share of class A common stock:
Basic	$	0.34		$	0.70	$	0.45	$	0.37
Diluted	$	0.34		$	0.70	$	0.45	$	0.37
2013
Revenues(1)	$	1,456		$	6,017	$	18,853	$	26,837
Net (loss) income	$	(1,597	)	$	6,768	$	10,526	$	9,728
Net (loss) income attributable to
Blackstone Mortgage Trust, Inc.	$	(3,115	)	$	2,748	$	8,320	$	7,079
Net (loss) income per share of class A common stock:
Basic	$	(1.03	)	$	0.22	$	0.29	$	0.24
Diluted	$	(1.03	)	$	0.22	$	0.29	$	0.24
2012
Revenues(1)	$	14,716		$	6,763	$	6,944	$	6,517
Net income	$	140,622		$	3,351	$	12,900	$	122,931
Net income attributable to
Blackstone Mortgage Trust, Inc.	$	66,553		$	2,283	$	6,999	$	105,189
Net income per share of class A common stock:
Basic	$	29.14		$	1.00	$	3.02	$	42.21
Diluted	$	27.39		$	0.93	$	2.84	$	40.65

(1) Excludes revenues from discontinued operations.

Basic and diluted earnings per share are computed independently based on the weighted-average shares of common stock and stock units outstanding for each period. Accordingly, the sum of the quarterly earnings per share amounts may not agree to the total for the year. Earnings per share amounts have been adjusted to give retroactive effect to the reverse stock split, which we effected on May 6, 2013. See Note 9 for a further discussion of earnings per share.