Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  BlackRock, Inc.    BLK

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

BlackRock, Inc. : BlackRock's 2nd-Quarter Net Up 32% on Higher Revenue, Assets Under Management

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/18/2013 | 01:06pm CET
   By Saabira Chaudhuri 
 

BlackRock Inc.'s (BLK) second-quarter profit was up 32% as the money manager reported higher assets under management, while revenue logged a double-digit percentage gain.

BlackRock is the biggest provider of exchange-traded funds in the U.S., although rival firms have been gaining market share of late.

Thursday, Chief Executive Laurence Fink said BlackRock generated record base fees during the quarter and $11.9 billion in long-dated net new business across a variety of products, including 11 funds that each raised more than $1 billion.

Total assets under management stood at $3.857 trillion as of the end of the first quarter, up 8% from a year earlier, although down roughly 2% from the first quarter.

BlackRock reported a profit of $729 million, or $4.19 a share, compared with a year-earlier profit of $554 million, or $3.08 a share. Stripping out one-time items, per-share earnings were $4.15 versus $3.10 a year ago.

Revenue jumped 11% to $2.48 billion.

Analysts expected earnings of $3.82 a share on $2.49 billion in revenue, according to a poll conducted by Thomson Reuters.

Thursday, BlackRock said its iShares ETF business reported net outflows of $963 million in the latest quarter, bringing the unit's assets under management to $774.4 billion. This compares with $25.6 billion in net inflows and assets under management of $802.8 billion in the first quarter.

ETFs--mutual funds that typically track an index but are traded on an exchange--have surged in popularity as investors seek out lower-cost investment products.

Meanwhile, BlackRock's stock funds are lagging behind many of the company's U.S. competitors, according to a recent report from Credit Suisse Group AG. BlackRock has signaled that the stock-investing business should be a driver of growth, partly because the firm's fixed-income side already is quite large. But the poor performance is costing BlackRock fees and the firm recently overhauled its U.S. stock unit, including a purge of management teams at more than half of the funds in the group.

Shares closed Wednesday at $272.29 and were inactive in recent premarket trading. The stock has risen 56% in the past 12 months.

Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com

Order free Annual Report for BlackRock, Inc.

Visit http://djnweurope.ar.wilink.com/?ticker=US09247X1019 or call +44 (0)208 391 6028

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BLACKROCK, INC.
12:10p BLACKROCK : Osborne set to join BlackRock
01/22DJJ.P. Morgan Joins Push for Nontransparent, Active ETFs
01/21 BLACKROCK : Osborne's new job
01/21 ANWORTH MORTGAGE ASSET : The Los Angeles Capital Management & Equity Research In..
01/20DJBLACKROCK : Former U.K. Chancellor George Osborne to Join Fund Giant BlackRock
01/20 BLACKROCK : Ex-UK Treasury chief George Osborne joining BlackRock
01/20 BLACKROCK : Fears of economic 'race to bottom', strong dollar in Davos
01/19 DOW CHEMICAL : Davos hosts panel on Saudi Arabia’s path to 2030
01/19 TOSHIBA : BlackRock owns 5 percent of Toshiba, likely becoming top shareholder
01/19 BLACKROCK : Invests USD105.4 Million in Linkem
More news
Sector news : Investment Management & Fund Operators - NEC
01/20 INSTITUTIONAL INVESTORS SEEN STICKIN : survey
01/20DJBANK OF NEW YORK MELLON : BNY Mellon Cost Cuts Lift Profit -- WSJ
01/19DJBANK OF NEW YORK MELLON : BNY Mellon Assets Fall, Hurt by Outflows and Strong Do..
01/18 Goldman could move up to 1,000 London staff to Frankfurt - Handelsblatt
01/18DJSTATE STREET : to Pay More Than $64 Million to Resolve U.S. Probes -Update
More sector news : Investment Management & Fund Operators - NEC
News from SeekingAlpha
01/22 BLACKROCK : A Rising (ETF) Tide Lifts All Boats
01/19 ONE STEP CLOSER TO FINANCIAL FREEDOM : My 2016 Income Review
01/19 BlackRock's Fink sees big opportunities in Saudi Arabia
01/18 BLACKROCK : Finally Flexing Its Muscles On Executive Pay?
01/17 5 DIVIDEND INCREASES : January 9-13, 2017
Advertisement
Financials ($)
Sales 2017 11 917 M
EBIT 2017 5 132 M
Net income 2017 3 467 M
Debt 2017 -
Yield 2017 2,62%
P/E ratio 2017 17,90
P/E ratio 2018 15,67
Capi. / Sales 2017 5,22x
Capi. / Sales 2018 4,80x
Capitalization 62 214 M
More Financials
Chart BLACKROCK, INC.
Duration : Period :
BlackRock, Inc. Technical Analysis Chart | BLK | US09247X1019 | 4-Traders
Full-screen chart
Technical analysis trends BLACKROCK, INC.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 421 $
Spread / Average Target 10%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Laurence Douglas Fink Chairman & Chief Executive Officer
Robert Steven Kapito President & Non-Independent Director
Robert L. Goldstein Chief Operating Officer & Senior Managing Director
Gary S. Shedlin Chief Financial Officer & Senior Managing Director
Derek N. Stein Global Head-Business Operations & Technology
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BLACKROCK, INC.0.23%62 214
UBS GROUP AG0.00%64 096
GOLDMAN SACHS BDC INC-3.10%55 228
BANK OF NEW YORK MELLO..-5.95%47 115
STATE STREET CORP1.66%30 477
FRANKLIN RESOURCES, IN..2.60%23 008
More Results