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BlackRock's (BLK) Q4 Earnings & Revenues Beat Estimates

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Have you been eager to see how BlackRock, Inc. (BLK - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based investment management company’s earnings release this morning:

An Earnings Beat

BlackRock came out with adjusted earnings per share of $6.24, beating the Zacks Consensus Estimate of $6.08.

Results benefitted primarily from an improvement in revenues.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for BlackRock depicted optimism prior to the earnings release. The Zacks Consensus Estimate has moved nearly 2% higher over the last 7 days.

Before posting earnings beat in Q4, the company delivered positive surprises in three of the trailing four quarters.

As a result, the company overall surpassed the Zacks Consensus Estimate by an average of nearly 3% in the trailing four quarters.

BlackRock, Inc. Price and EPS Surprise
 

BlackRock, Inc. Price and EPS Surprise | BlackRock, Inc. Quote

Revenue Came In Higher-than-Expected

BlackRock posted revenues (on GAAP basis) of $3.47 billion, surpassing the Zacks Consensus Estimate of $3.35 billion. The reported figure was up 20% from the year-ago quarter.

Key Developments to Note:

  • Adjusted EPS of $22.60 for 2017 recorded 17% year-over-year growth
  • Technology and risk management revenue recorded 15.4% year-over-year rise
  • Assets under management of $6.3 trillion as of Dec 31, 2017, up 22% year over year
  • Long-term inflows of $80.6 billion in the quarter


What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for BlackRock. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here)

Check back later for our full write up on this BlackRock earnings report!

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