BlackRock Q2: Bottomline Beat, Net Inflow Strong At $80B, Continued Strength In Bond ETF Inflow
Portfolio Pulse from Lekha Gupta
BlackRock Inc (NYSE:BLK) reported a Q2 revenue decline of 1% Y/Y to $4.46 billion, slightly below the consensus of $4.47 billion. Total net inflows stood at $80.2 billion, reflecting the continued strength of a broad-based platform. Adjusted EPS rose 26% Y/Y to $9.28, beating the consensus of $8.46. Total AUM were $9.43 trillion as of June 30, 2023. The company repurchased shares worth $375 million in Q2. BLK shares are trading lower by 0.92% at $733.00 premarket on the last check Friday.
July 14, 2023 | 11:43 am
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BlackRock's Q2 results show a slight revenue decline but strong net inflows and a rise in adjusted EPS. The company's shares are trading lower premarket.
Despite beating EPS estimates and reporting strong net inflows, BlackRock's shares are trading lower premarket, likely due to the slight revenue miss. The company's performance may be impacted by market movements on its AUM.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100