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BlackRock (BLK) Beats Q3 Earnings on Top-Line Growth

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Have you been eager to see how BlackRock, Inc.BLK performed in Q3 in comparison with the market expectations? Let's quickly scan through the key facts from this New York-based investment management company's earnings release this morning:

An Earnings Beat

BlackRock came out with adjusted earnings per share of $5.00, beating the Zacks Consensus Estimate of $4.51.

Growth in revenues and a stable expense base contributed to the better-than-expected results.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for BlackRock depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 5.5% lower over the last 30 days.

However, BlackRock has a decent earnings surprise history. Before posting an earnings beat in Q3, the company delivered positive surprises in the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.58% in the trailing four quarters.

Revenue Came In Higher Than Expected

BlackRock posted revenues of $2.91 billion, which surpassed the Zacks Consensus Estimate of $2.81 billion. Moreover, it compared favorably with the year-ago quarter figure of $2.85 billion.

Key Developments to Note:

  • BlackRock reported $50.0 billion of total net inflows for the quarter, including $35.0 billion of long-term net inflows.

  • iShares, with $23 billion of net inflows, once again captured the #1 market share of net new business globally as well as in both the US and Europe.

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #5 (Strong Sell) for BlackRock. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

Check back later for our full write up on this BlackRock earnings report!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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