BlackRock profit beats estimates as assets reach $9.49 trillion

Reuters2021-07-14

BlackRock Inc , the world's largest asset manager, reported a 28% jump in second-quarter profit on Wednesday that handily beat estimates as investors poured more money into the company's funds, boosting its assets under management to new highs.

The company's adjusted net income rose to $1.55 billion, or $10.03 per share, in the three months ended June 30, from $1.21 billion, or $7.85 per share, a year earlier.

Analysts on average had expected a profit of $9.46 per share, according to IBES data from Refinitiv.

Net inflows stood at $81 billion, driven by higher investments in BlackRock's various funds, including its exchange-traded funds.

BlackRock's bumper quarter saw its assets under management grow to a record $9.49 trillion from $7.32 trillion in the same quarter last year.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
14