Shares of BlackRock BLK rose 0.3% in pre-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share were up 22.46% year over year to $7.85, which beat the estimate of $6.97.
Revenue of $3,648,000,000 up by 3.52% year over year, which beat the estimate of $3,460,000,000.
Guidance
BlackRock hasn't issued any earnings guidance for the time being.
BlackRock hasn't issued any revenue guidance for the time being.
Conference Call Details
Date: Jul 17, 2020
Time: 08:30 AM
Recent Stock Performance
52-week high: $576.81
52-week low: $323.98
Price action over last quarter: Up 19.11%
Company Description
BlackRock is the largest asset manager in the world, with $6.467 trillion in AUM at the end of 2019. Product mix is fairly diverse, with 46% of the firm's managed assets in equity strategies, 35% in fixed income, 7% in multi-asset class, 9% in money market funds, and 3% in alternatives. Passive strategies account for around two thirds of long-term AUM, with the company's iShares ETF platform maintaining a leading market share domestically and on a global basis. Product distribution is weighted more toward institutional clients, which by our calculations account for close to 80% of AUM. BlackRock is also geographically diverse, with clients in more than 100 countries and more than one third of managed assets coming from investors domiciled outside the U.S. and Canada.
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