BlackRock’s Q2 earnings top estimates but revenue, AUM come short

Shares in BlackRock (NYSE: BLK) rose slightly in premarket trading Monday after the asset management giant reported results for the fiscal Q2 2024.

Earnings per share (EPS) were reported at $10.36, topping the consensus estimates of $9.95. Revenue missed expectations, coming in at $4.81 billion compared to the estimated $4.85 billion, though it increased 8% year-over-year.

BLK climbed 1% in the premarket.

Assets under management reached $10.65 trillion, a 13% year-over-year increase, also slightly below the projected $10.73 trillion.

Net inflows were $81.57 billion, a 1.8% year-over-year increase, below the estimate of $101.24 billion.

Adjusted operating margin stood at 44.1%, compared to 42.5% year-over-year, and surpassing the estimate of 42.7%.

Equity net inflows were $6.44 billion, significantly below the estimated $31.85 billion.

BlackRock’s Chairman and CEO Laurence D. Fink, President Robert S. Kapito, and CFO Martin S. Small will host a teleconference call for investors and analysts at 7:30 a.m. ET.

By Vahid Karaahmetovic

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