LONDON, UK / ACCESSWIRE / July 19, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on BlackRock, Inc. (NYSE: BLK), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=BLK, following the Company's release of its second quarter fiscal 2017 earnings results on July 17, 2017. The world's biggest asset manager reported a 16% rise in Assets Under Management (AUM). Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

BlackRock's revenue increased 6% to $2.97 billion compared to revenue of $2.80 billion in Q2 2016. The Company's revenue number fell shy of the analysts' consensus of $2.99 billion. The Company's AUM grew 16% to $5.69 trillion. Cash management AUM increased 4% to $402.6 billion, driven by $10.2 billion of net inflows.

During Q2 2017, BlackRock's total expenses amounted to $1.72 billion, up 6% on a y-o-y basis, driven by a rise in all cost components except amortization of deferred sales commissions and stable amortization of intangible assets. Employee compensation and benefit expense was up $24 million, or 2% on a y-o-y basis, primarily reflecting higher headcount. The Company's G&A expense was up $34 million, or 11% on a y-o-y basis, reflecting increased levels of spending to drive growth, including investments in technology and data and higher discretionary marketing and promotional spend. BlackRock's adjusted operating income came in at $1.25 billion, up 6% on a y-o-y basis.

Net income attributable to BlackRock rose to $857 million in Q2 2017 compared to $789 million in Q2 2016. On a per share basis, the Company generated earnings of $5.22, up from $4.73 in the prior year's same quarter. On an adjusted basis, BlackRock reported earnings of $5.24 per share which was below Wall Street's expectations of $5.40 per share.

Business Highlights

During Q2 2017, BlackRock's total quarterly flows exceeded $100 billion and were positive across client types, asset classes, and investment styles. The Company's reported quarter long-term net inflows of $94 billion were a record for BlackRock and represented an annualized organic asset growth rate of 7%, driven by iShares which crossed $1.5 trillion of global AUM in the reported quarter. The Company recorded long-term net inflows of $96.2 billion and $6.2 billion from clients in the Americas and Asia/Pacific regions, respectively. These were partially offset by net outflows of $8.9 billion from clients in EMEA. At June 30, 2017, the Company managed 64% of its long-term AUM for investors in the Americas and 36% for clients in EMEA and Asia/Pacific.

For Q2 2017, BlackRock's Retail long-term net inflows of $6.5 billion reflected net inflows of $3.5 billion internationally and $3.0 billion in the United States. The Company's fixed income net inflows of $7.1 billion were diversified across its top-performing platform, led by net inflows into municipal, total return and unconstrained categories. Equity net outflows of $0.6 billion reflected outflows from European and US equities, while multi-asset net outflows of $0.1 billion were primarily driven by outflows from world allocation strategies.

BlackRock's iShares ETFs long-term net inflows totaled a record $73.8 billion in Q2 2017 which represented 21% annualized organic growth. The Company's equity net inflows of $51.8 billion were driven by both US and international equity market exposures. Fixed income net inflows of $21.0 billion were led by investment grade corporate, emerging markets debt, and Treasury bond funds.

During Q2 2017, BlackRock's Institutional active long-term net inflows of $4.6 billion were attributable to multi-asset net inflows of $9.5 billion reflecting ongoing demand for the LifePath® target-date series. The Company's alternatives net inflows of $1.7 billion were driven by flows into infrastructure offerings. Equity net outflows of $4.4 billion were largely due to outflows from scientific active and fundamental US equities.

In Q2 2017, BlackRock's base fees rose 7% on a y-o-y basis driven primarily by the positive impact of organic growth and market appreciation on average AUM. The Company's performance fees of $48 million decreased $26 million from the prior year due to weaker relative performance and long-only equity funds with annual locks in Q2 2017. BlackRock's technology and risk management revenue of $164 million increased 12% on a y-o-y basis driven by several clients going live on the Aladdin platform and new client wins.

Stock Performance

At the closing bell, on Tuesday, July 18, 2017, BlackRock's stock rose slightly by 0.53%, ending the trading session at $426.88. A total volume of 848.00 thousand shares have exchanged hands, which was higher than the 3-month average volume of 599.45 thousand shares. The Company's stock price surged 11.28% in the last three months, 13.90% in the past six months, and 19.31% in the previous twelve months. Moreover, the stock rallied 12.18% since the start of the year. The stock is trading at a PE ratio of 20.97 and has a dividend yield of 2.34%. The stock currently has a market cap of $68.94 billion.

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