BlackRock’s pre-conference trading was up 0.2% as the fund management company reported net profit for the first quarter to $ 1.44 billion, or $ 9.35 per share, from $ 1.2 billion. Dollars or $ 7.77 per share a year ago.
Adjusted net income rose to $ 9.52 per share from $ 8.04.
Revenue rose to $ 4.7 billion from $ 4.4 billion. Analysts had expected earnings of $ 8.70 per share and revenue of $ 4.67 billion.
The company repurchased $ 500 million worth of shares in the first quarter. Total net inflows fell to $ 86.36 billion from $ 171.64 billion a year ago, compared to estimates of $ 115.8 billion.
The assets under management of the company increased 6% to 9.57 trillion. dollars.
Source: Capital
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