Investing
BlackRock reports earnings beat fueled by massive long-term inflows
© Reuters. BlackRock (BLK) reports earnings beat fueled by massive long-term inflows
By Senad Karaahmetovic
BlackRock (NYSE:) posted better-than-expected earnings, driven by significant net inflows in the first quarter.
The asset manager $7.93 per share to beat the consensus for earnings of $7.75 per share. Revenue fell almost 10% year-over-year to $4.243 billion but still in line with expectations.
The company reported a 28% jump in Q1 net inflows to $110.3B, crushing the expected $83.6B inflows. This includes $103B of quarterly long-term net inflows.
BlackRock had $9.09 trillion in assets under management (AUM) at the end of the quarter, higher than the expected $8.86T.
“I believe today’s crisis of confidence in the regional banking sector will further accelerate capital markets growth, and BlackRock will be a central player,” CEO Larry Fink said.
“BlackRock is a source of both stability and optimism for clients.”
The operating margin came in at 33.9% while the adjusted operating margin was reported at 40.4%.
Read the full article here
-
Side Hustles5 days ago
5 Things That Could Significantly Impact Your Company in 2025
-
Investing5 days ago
NFI Group surge after board reshaped with new appointments, chairperson By Investing.com
-
Side Hustles6 days ago
How Failing 22 Times Paved the Way to My Success
-
Passive Income4 days ago
3 Challenges Entrepreneurs Will Face in 2025
-
Investing6 days ago
Chinese hack of US telecoms compromised more firms than previously known, WSJ says By Reuters
-
Investing6 days ago
Apple Siri Settlement: Who Is Eligible for a Cash Payout
-
Side Hustles6 days ago
3 Strategies to Make Your Next Campaign Go Viral
-
Make Money2 days ago
10 Critical Questions to Ask Your Financial Advisor Now