BlackRock: quarterly profit beats expectations
(CercleFinance.com) - BlackRock, the world's largest asset manager, on Thursday reported better-than-expected Q1 profit, helped by a record inflow of funds.
The US fund management giant said this morning that its net profit for the first three months of the year was nearly 1.2 billion dollars, or 7.77 dollars per share, compared with 806 million dollars (6.60 dollars per share) a year ago.
The consensus was expecting slightly lower EPS of around 7.65 dollars.
In a statement, BlackRock said it recorded a record 172 billion dollars in net new assets over the first three months of the year.
This is the fourth consecutive quarter that this indicator of client activity and confidence has exceeded the 100 billion dollar mark.
As of 31 March, the New York-based group had over 9 trillion dollars in assets under management, up 39% year-on-year.
The stock was up 1.4% in pre-market trading on Thursday.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The US fund management giant said this morning that its net profit for the first three months of the year was nearly 1.2 billion dollars, or 7.77 dollars per share, compared with 806 million dollars (6.60 dollars per share) a year ago.
The consensus was expecting slightly lower EPS of around 7.65 dollars.
In a statement, BlackRock said it recorded a record 172 billion dollars in net new assets over the first three months of the year.
This is the fourth consecutive quarter that this indicator of client activity and confidence has exceeded the 100 billion dollar mark.
As of 31 March, the New York-based group had over 9 trillion dollars in assets under management, up 39% year-on-year.
The stock was up 1.4% in pre-market trading on Thursday.
Copyright (c) 2021 CercleFinance.com. All rights reserved.