BlackRock posts stronger-than-expected earnings

BlackRock posts stronger-than-expected earnings

The pandemic benefited BlackRock

Another day, another financial report. Today, the most significant asset management company in the world released its Q2 earnings.

BlackRock posted stronger-than-expected Q2 earnings, with an EPS of $7.85, 22.5% higher than the one reported last year. The net income came at $1.21 billion, outperforming the economists' consensus of $6.97 EPS.

The company’s revenues gained 3.7% and hit $3.65 billion. Simultaneously, the income from assets under management reached $7.32 trillion – a 7% increase compared to last year's figures.

The fixed income inflow came roughly at $60.3 billion, and another $24.2 billion in equities.

Globally, the asset management and technology platform brought a net inflow off $100 billion.

During pre-market trading, the stock increased by 0.53%. Overall, it gained 13.2%.

Sources: thestreet.com, reuters.com

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