BlackRock Earnings: BLK Stock Gets a 3% Bump on Big Earnings Beat

BlackRock (NYSE:BLK) earnings for the investment company’s third quarter of 2020 have BLK stock on the move in morning trading on Tuesday. That’s due to its adjusted earnings per share of $9.22 blowing past Wall Street’s estimate of $7.77. Its revenue of $4.37 billion also easily beats out analysts’ estimates of $3.93 billion.

A BlackRock (BLK) sign out front of a BlackRock office in San Francisco, California.
Source: David Tran Photo / Shutterstock.com

Here are some additional highlights from the most recent BlackRock earnings report.

  • Adjusted per-share earnings are up 29% from $7.15 in the same period of the year prior.
  • Revenue for the quarter comes in 18% higher than the $3.69 billion reported in Q3 2019.
  • Operating income of $1.76 billion is a 17% increase year-over-year from $1.5 billion.
  • The BlackRock earnings report also has net income coming in at $1.36 billion.
  • That’s a 22% jump from the company’s net income of $1.12 billion from the same time last year.

Laurence Fink, chairman and CEO of BlackRock, said this in the earnings report.

“BlackRock generated $129 billion of total net inflows in the third quarter, representing 9% annualized organic base fee growth. Our diverse platform saw inflows across all asset classes, investment styles and regions. Notably, more than 50% of longterm flows were driven by clients in Europe and Asia.”

BlackRock doesn’t include guidance in its current earnings report. Even so, we know what Wall Street’s expecting. That includes an adjusted EPS of $30.13 on revenue of $15.34 billion for the full year of 2020.

BLK stock was up 3.3% as of Tuesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


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