For the quarter ended March 2024, BlackRock (BLK - Free Report) reported revenue of $4.73 billion, up 11.4% over the same period last year. EPS came in at $9.81, compared to $7.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.69 billion, representing a surprise of +0.87%. The company delivered an EPS surprise of +4.14%, with the consensus EPS estimate being $9.42.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how BlackRock performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Assets Under Management: $10,472.5 billion compared to the $10,210.25 billion average estimate based on three analysts.
- Net inflows: $57.19 billion versus the three-analyst average estimate of $69.16 billion.
- Assets under management - Cash Management: $745.78 billion compared to the $749.65 billion average estimate based on three analysts.
- Net inflows - Product Type - Cash management: $-19.22 billion versus $6.35 billion estimated by three analysts on average.
- Revenue- Technology services revenue: $377 million versus $386.17 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.9% change.
- Revenue- Investment advisory performance fees: $204 million versus $121.06 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +270.9% change.
- Revenue- Advisory and other revenue: $59 million compared to the $32.88 million average estimate based on four analysts. The reported number represents a change of +118.5% year over year.
- Revenue- Total investment advisory, administration fees and securities lending revenue: $3.78 billion versus $3.81 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
- Revenue- Distribution fees: $310 million versus the four-analyst average estimate of $327.80 million. The reported number represents a year-over-year change of -2.8%.
- Revenue- Investment advisory, administration fees and securities lending revenue- Alternatives subtotal: $423 million versus $433.99 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
- Revenue- Investment advisory, administration fees and securities lending revenue- Fixed income subtotal: $903 million compared to the $894.25 million average estimate based on three analysts. The reported number represents a change of +6.2% year over year.
- Revenue- Investment advisory, administration fees and securities lending revenue- Equity subtotal: $1.89 billion versus the three-analyst average estimate of $1.90 billion. The reported number represents a year-over-year change of +7.9%.
View all Key Company Metrics for BlackRock here>>>Shares of BlackRock have returned -2.8% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
For the quarter ended March 2024, BlackRock (BLK - Free Report) reported revenue of $4.73 billion, up 11.4% over the same period last year. EPS came in at $9.81, compared to $7.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $4.69 billion, representing a surprise of +0.87%. The company delivered an EPS surprise of +4.14%, with the consensus EPS estimate being $9.42.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how BlackRock performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total Assets Under Management: $10,472.5 billion compared to the $10,210.25 billion average estimate based on three analysts.
- Net inflows: $57.19 billion versus the three-analyst average estimate of $69.16 billion.
- Assets under management - Cash Management: $745.78 billion compared to the $749.65 billion average estimate based on three analysts.
- Net inflows - Product Type - Cash management: $-19.22 billion versus $6.35 billion estimated by three analysts on average.
- Revenue- Technology services revenue: $377 million versus $386.17 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.9% change.
- Revenue- Investment advisory performance fees: $204 million versus $121.06 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +270.9% change.
- Revenue- Advisory and other revenue: $59 million compared to the $32.88 million average estimate based on four analysts. The reported number represents a change of +118.5% year over year.
- Revenue- Total investment advisory, administration fees and securities lending revenue: $3.78 billion versus $3.81 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
- Revenue- Distribution fees: $310 million versus the four-analyst average estimate of $327.80 million. The reported number represents a year-over-year change of -2.8%.
- Revenue- Investment advisory, administration fees and securities lending revenue- Alternatives subtotal: $423 million versus $433.99 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.9% change.
- Revenue- Investment advisory, administration fees and securities lending revenue- Fixed income subtotal: $903 million compared to the $894.25 million average estimate based on three analysts. The reported number represents a change of +6.2% year over year.
- Revenue- Investment advisory, administration fees and securities lending revenue- Equity subtotal: $1.89 billion versus the three-analyst average estimate of $1.90 billion. The reported number represents a year-over-year change of +7.9%.
View all Key Company Metrics for BlackRock here>>>Shares of BlackRock have returned -2.8% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
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