BlackRock Earnings: BLK Stock Gets a 4% Boost From Q1 Results

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BlackRock (NYSE:BLK) earnings for first quarter of 2020 have BLK stock up on Thursday. This is due to its adjusted earnings per share (EPS) of $6.60 beating out Wall Street’s estimate of $6.39. The American investment company’s revenue of $3.71 billion also comes in higher than analysts’ estimates of $3.58 billion.

BlackRock Earnings: BLK Stock Gets a 4% Boost From Q1 Results

Source: David Tran Photo / Shutterstock.com

Now, let’s take a more in-depth look at the most recent BlackRock earnings report.

  • Adjusted per-share earnings are down slightly from the $6.61 reported in the first quarter of 2019.
  • Revenue for the quarter is sitting 10.75% higher than the $3.35 billion from the same time last year.
  • Operating income of $684 million is a 44.39% decline year-over-year from $1.23 billion.
  • The BlackRock earnings report also has it bringing in a net income of $627 million.
  • That’s a 40.85% drop compared to its net income of $1.06 billion from the same period of the year prior.

Laurence Fink, chairman and CEO of BlackRock, said this about the BLK stock earnings report.

“The strategic investments we’ve made over recent years in key areas for growth continue to deliver. iShares ETFs have acted as a valuable market technology as investors once again turned to bond ETFs for price transparency and incremental liquidity in volatile markets.”

The BlackRock earnings report doesn’t include its 2020 guidance. Nevertheless, we know what Wall Street expects. That includes an adjusted EPS of $26.17 on revenue of $14.05 billion.

BLK stock was up 3.91% as of Thursday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/04/blackrock-earnings-send-blk-stock-up/.

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