BlackRock: Q3 Earnings Insights

Shares of BlackRock BLK moved higher by 4.5% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were up 28.95% over the past year to $9.22, which beat the estimate of $7.77.

Revenue of $4,369,000,000 up by 18.34% from the same period last year, which beat the estimate of $3,930,000,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Oct 13, 2020

Time: 08:30 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fir.blackrock.com%2F&eventid=2633789&sessionid=1&key=8DAA259B86C937EE872DE906BB80F8F7&regTag=&sourcepage=register

Recent Stock Performance

52-week high: $620.66

52-week low: $323.98

Price action over last quarter: Up 6.59%

Company Description

BlackRock is one of the largest asset managers in the world, with $7.318 trillion in AUM at the end of June 2020. Product mix is fairly diverse, with 48% of the firm's managed assets in equity strategies, 33% in fixed income, 8% in multi-asset class, 8% 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.