BlackRock Hits Record $15.3T AUM, Q2 Earnings Crush Estimates
BLK is trading near its 52-week low of $917.39 (14% above the low).
Summary
BlackRock reported record Q2 results with assets under management reaching $15.3 trillion, driven by $192 billion in net inflows and market gains. Revenue came in at $7.08 billion, beating estimates on base fees and inflow strength. Net income advanced 20% to $1.9 billion, with adjusted EPS of $13.91 surpassing the $12.68 consensus. Organic base fee growth accelerated to 8%, above the company's 5% target, and CEO noted that flows in the first six months more than doubled year-over-year. The earnings beat and accelerating organic growth reinforce BlackRock's dominant scale and are likely to drive positive price action and upward estimate revisions.
At the time of this announcement, BLK was trading at $1,043.23 on NYSE in the Finance sector, with a market capitalization of approximately $166.7B. The 52-week trading range was $917.39 to $1,219.94. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.