BlackRock's [profile] AUM was up one percent year-over-year, while its quarterly revenues were down one percent. What does that mean? It was a good quarter for ETF sales at BlackRock's iShares [profile] unit.

The world's biggest asset manager released those numbers today in its first quarter earnings report [earnings release] [earnings supplement].

Barron's, New York Times' DealBook, Reuters, RTTNews, ValueWalk, the Wall St. Cheat Sheet and the Wall Street Journal all reported on the New York City-based asset manager's results.

BlackRock reported first quarter revenue of $2.2 billion, down $33 million, while assets under management climbed one percent from Q1 2011 to $3.68 trillion. BlackRock earned $3.16 per share, excluding some compensation and other expense costs, beating expectations from Thomson Reuters-polled analysts by $0.12, i.e. four percent.

iShares alone brought in $18.2 billion in net inflows in Q1 2012, up 74 percent year-over-year. Excluding a single $36 billion withdrawal, $25.7 billion net flowed into BlackRock's long-term oferings. 

Edited by: Neil Anderson, Managing Editor


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