BlackRock (BLK) PT Lowered to $441 at Deutsche Bank Following 1Q
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Booming ETFs help BlackRock weather investors' cost-cutting
April 19, 2017 6:41 AM EDTBy Trevor Hunnicutt
NEW YORK (Reuters) - BlackRock Inc (NYSE: BLK), the world's biggest asset manager, on Wednesday reported double-digit profit gains as investors plowed money into lower-cost index funds, but the company's share price slipped as revenue fell short of analysts' expectations.
For graphic on BlackRocks growth paradox, click: http://tmsnrt.rs/2pDik4d
Revenues of $2.8 billion came in 2 percent below analysts' estimates as advisory and distribution fees declined. Chief Executive Officer Larry Fink said the miss was not attributable to the fees it charges for managing funds.
... MoreBlackRock (BLK) Tops Q1 EPS by 37c
April 19, 2017 6:30 AM EDTBlackRock (NYSE: BLK) reported Q1 EPS of $5.25, $0.37 better than the analyst estimate of $4.88. Revenue for the quarter came in at $2.82 billion versus the consensus estimate of $2.85 billion.
For earnings history and earnings-related data on BlackRock (BLK) click here.
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