BlackRock earnings for the first quarter of 2019 have BLK stock up on Tuesday.
BlackRock (NYSE:BLK) earnings for the first quarter of the year include earnings per share of $6.61. This is down from the company’s earnings per share of $6.70 for the first quarter of 2018. However, it was still good news for BLK stock by easily beating out Wall Street’s earnings per share estimate of $6.13 for the period.
The BlackRock earnings report for the first quarter of 2019 also has net income coming in at $1.06 billion. That’s a drop from the company’s net income of $1.09 billion reported in the same period of the year prior.
Operating income reported in the BlackRock earnings report for the first quarter of the year comes in at $1.23 billion. The investment management company reported operating income of $1.38 billion in the first quarter of the previous year.
The most recent BlackRock earnings also has the company reporting revenue of $3.35 billion for the quarter. This is a decrease from the company’s revenue of $3.58 billion reported during the same time last year. However, it was still a boon to BLK stock by coming in above analysts’ revenue estimate of $3.34 billion for the quarter.
“BlackRock’s broad investment platform generated $65 billion of total net inflows in the first quarter, representing 4% organic growth,” Laurence Fink, Chairman and CEO of BlackRock, said in a statement. “The breadth of our investment capabilities, spanning index, alphaseeking, alternatives and cash, coupled with our industry-leading technology and portfolio construction capabilities, allowed us to generate strong flows and continue to meet the evolving needs of our global clients. ”
BLK stock was up 2% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.