MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, July 21, 2009 BlackRock's Net Surges On Tuesday BlackRock Inc. released its Q2 earnings report, reporting a net income of $218 million , or $1.59 per share, and an adjusted net income of $239 million, or $1.75 per share. The company's profit margin for this quarter was 16 percent lower than Q2 of last year. The report pointed to BlackRock's period-over-period changes over the past 12 months in AUM to explain the marked drop in revenues and operating income, as adjusted. The asset management firm's revenues were $1.029 billion this quarter, which was 26 percent lower than Q2 of last year. Yet despite lower overall revenues when compared to Q2 of last year, investors can sit tight for now: the company's adjusted net income was 117 percent higher than Q1 of 2009. In fact, BlackRock's reported figures beat the expectations that analysts had originally expected according to a FactSheet Research survey. On average, analysts predicted total revenues hovering around $1.01 billion, or $1.58 a share. As of June 30, 2009, BlackRock's AUM totals $1.373 trillion, which is seven percent higher than the AUM figures reported March 31, 2009. The company also saw total net inflows of $15.2 billion during Q2. Printed from: MFWire.com/story.asp?s=22115 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |