BlackRock Profit Beats Estimates As Funds Attract Inflows

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BlackRock Profit Beats Estimates As Funds Attract Inflows

Tiger Newspress2022-04-13

BlackRock shares rose fractionally higher in pre-open trading Wednesday following earnings that beat the bottom line consensus but missed slightly on the top line as inflows held strong despite the volatile market that hurt performance fees.

The fund manager reported that adjusted EPS rose 18% to $9.52, topping the consensus of $8.84. Revenue rose 7% to $4.699 billion, just below the consensus of $4.73 billion. Revenue was driven by strong organic and technology services growth, offset by lower performance fees.

The company generated $114 billion of long-term net inflows in the first quarter, while $86 billion of quarterly total net inflows. Pacer Swan SOS Fund of Funds ETF|ETFs delivered $56 billion of net inflows.

BlackRock repurchased $500 million in stock in the quarter and raised its dividend by 18% to $4.88 per share.

The stock rose fractionally higher in pre-open trading Wednesday.

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.

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Comment（6）

Evey77
·2022-04-13
With the price falling, is it a good time to buy now?
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mohjoejoejoe
·2022-04-13
Ok
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Hugo boss
·2022-04-13
Okokgood
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Larry Wong
·2022-04-13
Ok
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edwinong
·2022-04-13
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5
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Fireweed
·2022-04-13
Yeah
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