It was another good quarter for investing giant
BlackRock.
The firm
reported first quarter 2013 diluted earnings per share of $3.62, up 15 percent from a year ago. Operating income for the quarter reached $909 million, up 12 percent. The company had an operating margin of 37.1 percent.
The company's revenue hit $2.4 billion, up 9 percent, reflecting growth in investment advisory, administration fees and securities lending revenue as well as growth in performance fees. The firm also saw increased advisory revenue as well as revenue from
BlackRock Solutions.
The fund giant hit a record $3.936 trillion in AUM, up 7 percent from a year ago.
According to
Benzinga, BlackRock's EPS beat analyst expectations by seven cents and its revenue of $2.45 billion handily beat the $2.43 billion consensus.
In addition to
Benzinga, BlackRock's solid results caught the attention of a number of news outlets, including
SeekingAlpha;
Benzinga;
Reuters;
FoxBusiness;
the New York Time's DealBook, and
Bloomberg.
 
Edited by:
Tommy Fernandez
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