MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, April 16, 2013 BlackRock's Earnings Jump 15 Percent It was another good quarter for investing giant BlackRock. The firm reported first quarter 2013 diluted earnings per share of $3.62, up 15 percent from a year ago. Operating income for the quarter reached $909 million, up 12 percent. The company had an operating margin of 37.1 percent. The company's revenue hit $2.4 billion, up 9 percent, reflecting growth in investment advisory, administration fees and securities lending revenue as well as growth in performance fees. The firm also saw increased advisory revenue as well as revenue from BlackRock Solutions. The fund giant hit a record $3.936 trillion in AUM, up 7 percent from a year ago. According to Benzinga, BlackRock's EPS beat analyst expectations by seven cents and its revenue of $2.45 billion handily beat the $2.43 billion consensus. In addition to Benzinga, BlackRock's solid results caught the attention of a number of news outlets, including SeekingAlpha; Benzinga; Reuters; FoxBusiness; the New York Time's DealBook, and Bloomberg. Printed from: MFWire.com/story.asp?s=43609 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |