Beats Earnings by ~4% & Beats Revenue expectations by ~0.6%
Total Revenue: $4.81 Bn, up 8% YoY, up 2% QoQ
Net Income: $1.55 Bn, up 9% YoY, down 6% QoQ
Shares up ~1% in premarket trading after results
Key Takeaways:
AUM reached $10.65 Tn, up 13% YoY, up 2% QoQ
Investment advisory & admin fees: $3.7 Bn, up 8% YoY, up 2.5% QoQ
Long-term net inflows: $82 Bn
Issued $500 Mn of share repurchases in the current quarter
Chairman and CEO Laurence Fink on Financial Performance:
“BlackRock is executing on the broadest opportunity set we’ve seen in years, including in private markets, Aladdin, and whole portfolio solutions across both ETFs and active. We are opening up meaningful new growth markets for our clients and shareholders with our planned acquisitions of Global Infrastructure Partners and Preqin.”
