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Stock impact report

BlackRock's stock rallies, as profit falls below expectations but revenue beats [MarketWatch]

BlackRock, Inc. (BLK) 
Last blackrock, inc. earnings: 4/16 06:02 am Check Earnings Report
US:NYSE Investor Relations: ir.blackrock.com
Company Research Source: MarketWatch
Shares of BlackRock Inc. rallied 3.6% in premarket trading Thursday, after the investment manager reported a first-quarter profit that fell well below expectations, but revenue that rose above forecasts. Net income fell to $806 million, or $5.15 a share, from $1.05 billion, or $6.61 a share, in the year-ago period, as results were impacted by a $589 million charitable contribution. The FactSet consensus for earnings per share was $6.36. Revenue rose to $3.71 billion from $3.35 billion, above the FactSet consensus of $3.63 billion. Assets under management fell 1% to $6.47 trillion. Net flows for the quarter were $34.99 billion, as a $52.44 billion increase in cash management and $13.38 billion from ETFs offset a negative $30.97 billion from institutional and a negative $18.66 billion in long-term flows. The stock has lost 17.2% over the past three months, while the S&P 500 has declined 16.1%. Show less Read more
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