Have you been eager to see how BlackRock, Inc. (BLK - Free Report) performed in Q2 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 Miss
BlackRock came out with adjusted earnings per share of $4.78, missing the Zacks Consensus Estimate of $4.79.
Lower-than-expected results reflected decline in revenues, partially offset by lower expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BlackRock depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 1.4% lower over the last 7 days.
However, BlackRock has a decent earnings surprise history. Before posting an earnings miss in Q2, the company delivered positive surprises in two of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.95% in the trailing four quarters.
Revenue Came In Lower Than Expected
BlackRock posted revenues of $2.80 billion, which compared unfavorably with the Zacks Consensus Estimate of $2.82 billion and the year-ago quarter figure of $2.91 billion.
Key Developments to Note:
• Assets under management of $4.89 trillion as of Jun 30, 2016, up 4% year over year.
• $1.54 billion of long-term net inflows in the quarter.
• During the quarter, iShares saw $15.7 billion of long-term net inflows, resulting mainly from fixed income net inflows.
• Quarterly share repurchases worth $275 million was carried out.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BlackRock. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this BlackRock earnings report!
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Have you been eager to see how BlackRock, Inc. (BLK - Free Report) performed in Q2 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 Miss
BlackRock came out with adjusted earnings per share of $4.78, missing the Zacks Consensus Estimate of $4.79.
Lower-than-expected results reflected decline in revenues, partially offset by lower expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BlackRock depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 1.4% lower over the last 7 days.
However, BlackRock has a decent earnings surprise history. Before posting an earnings miss in Q2, the company delivered positive surprises in two of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.95% in the trailing four quarters.
Revenue Came In Lower Than Expected
BlackRock posted revenues of $2.80 billion, which compared unfavorably with the Zacks Consensus Estimate of $2.82 billion and the year-ago quarter figure of $2.91 billion.
Key Developments to Note:
• Assets under management of $4.89 trillion as of Jun 30, 2016, up 4% year over year.
• $1.54 billion of long-term net inflows in the quarter.
• During the quarter, iShares saw $15.7 billion of long-term net inflows, resulting mainly from fixed income net inflows.
• Quarterly share repurchases worth $275 million was carried out.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BlackRock. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this BlackRock earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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