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BlackRock earnings for the first quarter of 2019 have BLK stock up on Tuesday.
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BlackRock (NYSE: BLK ) earnings for the first quarter of the year include earnings per share of $6.61. This is down from the company's earnings per share of $6.70 for the first quarter of 2018. However, it was still good news for BLK stock by easily beating out Wall Street's earnings per share estimate of $6.13 for the period.
The BlackRock earnings report for the first quarter of 2019 also has net income coming in at $1.06 billion. That's a drop from the company's net income of $1.09 billion reported in the same period of the year prior.
Operating income reported in the BlackRock earnings report for the first quarter of the year comes in at $1.23 billion. The investment management company reported operating income of $1.38 billion in the first quarter of the previous year.
The most recent BlackRock earnings also has the company reporting revenue of $3.35 billion for the quarter. This is a decrease from the company's revenue of $3.58 billion reported during the same time last year. However, it was still a boon to BLK stock by coming in above analysts' revenue estimate of $3.34 billion for the quarter.
"BlackRock's broad investment platform generated $65 billion of total net inflows in the first quarter, representing 4% organic growth," Laurence Fink, Chairman and CEO of BlackRock, said in a statement . "The breadth of our investment capabilities, spanning index, alphaseeking, alternatives and cash, coupled with our industry-leading technology and portfolio construction capabilities, allowed us to generate strong flows and continue to meet the evolving needs of our global clients. "
BLK stock was up 2% as of Tuesday afternoon.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
The post BlackRock Earnings: BLK Stock Pops on Earnings Topper appeared first on InvestorPlace .
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.
