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
Why the Future of Cybersecurity Marketing Relies on Trust
5 Key Strategies for a Seamless Cloud Migration
Windows 11 Pro Is Just $17.97 for One Day Only
Go Paperless with the PDF Reader Pro for $49.99
Israel stocks lower at close of trade; TA 35 down 0.23% By Investing.com
3 Steps You Can’t Miss When Growing Your Business
15 Jobs That Will Shrink the Fastest Over the Next Decade
How to Maximize Your Profits With This Annual 8-Step Checklist
Netherlands stocks lower at close of trade; AEX down 0.80% By Investing.com
Why Email Marketing Is Still Your Business’s Most Powerful Tool
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Side Hustles6 days ago3 Steps You Can’t Miss When Growing Your Business
-
Make Money7 days ago15 Jobs That Will Shrink the Fastest Over the Next Decade
-
Side Hustles7 days agoHow to Maximize Your Profits With This Annual 8-Step Checklist
-
Investing7 days agoNetherlands stocks lower at close of trade; AEX down 0.80% By Investing.com
-
Passive Income7 days agoWhy Email Marketing Is Still Your Business’s Most Powerful Tool
-
Side Hustles7 days agoWant to Start a Business? Consider Buying One Instead — Here’s Why.
-
Investing6 days agoGermany stocks lower at close of trade; DAX down 0.65% By Investing.com
-
Investing6 days agoHow I Transformed My Business by Letting Go of Low-Value Tasks