Why Investment Management Company BlackRock's Shares Are Slipping Today
Portfolio Pulse from Akanksha Bakshi
BlackRock Inc (NYSE:BLK) reported Q3 FY23 revenue growth of 4.9% Y/Y to $4.52 billion, slightly missing the consensus of $4.54 billion. The growth was driven by organic growth, market movements impact on average AUM, and higher technology services revenue. The company's adjusted EPS increased 14% Y/Y to $10.91, beating the consensus of $8.26. Total AUM stood at $9.10 trillion as of September 30, 2023. However, BLK shares are trading lower by 2.54% at $620.00 premarket.
October 13, 2023 | 12:05 pm
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BlackRock's Q3 FY23 revenue slightly missed consensus, but adjusted EPS beat expectations. Despite the mixed results, shares are trading lower premarket.
BlackRock's Q3 FY23 results were mixed with revenue slightly missing consensus but EPS beating expectations. This mixed result, along with other market factors, could be contributing to the premarket drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100