BlackRock Q2 Earnings: ETF Boom, Record Inflows And Private Market Drive Growth
Portfolio Pulse from Lekha Gupta
BlackRock, Inc. (NYSE:BLK) reported its Q2 FY24 earnings with an 8% Y/Y revenue growth to $4.805 billion, missing the consensus of $4.849 billion. The company saw record inflows, driven by private markets and ETFs, and reported a 12% Y/Y increase in adjusted EPS to $10.36, beating the consensus of $9.93. BlackRock's total AUM rose to $10.6 trillion. The company also announced acquisitions of Global Infrastructure Partners and Preqin.
July 15, 2024 | 11:03 am
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POSITIVE IMPACT
BlackRock reported strong Q2 FY24 earnings with an 8% Y/Y revenue growth to $4.805 billion, though it missed the consensus. The company saw record inflows and a 12% Y/Y increase in adjusted EPS to $10.36, beating expectations. Total AUM rose to $10.6 trillion. The company also announced significant acquisitions.
BlackRock's strong earnings report, record inflows, and significant acquisitions are likely to positively impact its stock price in the short term. The company's ability to beat EPS expectations and grow AUM significantly indicates robust performance and investor confidence.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Fidelity Disruptive Finance ETF (FDFF) provides exposure to BlackRock, which reported strong Q2 FY24 earnings and significant acquisitions. This positive performance of BlackRock could benefit FDFF.
Given BlackRock's strong performance and its significant weight in the ETF, FDFF is likely to see a positive impact. Investors may view the ETF more favorably due to BlackRock's robust earnings and strategic acquisitions.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Schwab US Dividend Equity ETF (SCHD) includes BlackRock, which reported strong Q2 FY24 earnings and significant acquisitions. This positive performance of BlackRock could benefit SCHD.
BlackRock's strong earnings and strategic acquisitions are likely to positively impact SCHD, given BlackRock's inclusion in the ETF. Investors may see SCHD as a more attractive investment due to BlackRock's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50