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BlackRock (BLK) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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BlackRock (BLK - Free Report) reported $4.24 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 9.7%. EPS of $7.93 for the same period compares to $9.52 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.23 billion, representing a surprise of +0.38%. The company delivered an EPS surprise of +2.85%, with the consensus EPS estimate being $7.71.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how BlackRock performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net inflows: $110.3 billion versus the three-analyst average estimate of $79.7 billion.
Assets under management - Cash Management: $682.9 billion versus the three-analyst average estimate of $665.4 billion.
Total Assets Under Management: $9090.3 billion versus the three-analyst average estimate of $8590.3 billion.
Investment advisory, administration fees and securities lending: $3.50 billion versus the four-analyst average estimate of $3.43 billion. The reported number represents a year-over-year change of -8.6%.
Investment advisory performance fees: $55 million versus the four-analyst average estimate of $93.41 million. The reported number represents a year-over-year change of -43.9%.
Revenues- Advisory and other revenue: $27 million compared to the $38.82 million average estimate based on four analysts. The reported number represents a change of -41.3% year over year.
Distribution fees: $319 million versus the four-analyst average estimate of $324.36 million. The reported number represents a year-over-year change of -16.3%.
Revenues- Technology services revenue: $340 million compared to the $347.90 million average estimate based on four analysts. The reported number represents a change of -0.3% year over year.
Shares of BlackRock have returned +5.3% over the past month versus the Zacks S&P 500 composite's +7.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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BlackRock (BLK) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
BlackRock (BLK - Free Report) reported $4.24 billion in revenue for the quarter ended March 2023, representing a year-over-year decline of 9.7%. EPS of $7.93 for the same period compares to $9.52 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $4.23 billion, representing a surprise of +0.38%. The company delivered an EPS surprise of +2.85%, with the consensus EPS estimate being $7.71.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how BlackRock performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net inflows: $110.3 billion versus the three-analyst average estimate of $79.7 billion.
- Assets under management - Cash Management: $682.9 billion versus the three-analyst average estimate of $665.4 billion.
- Total Assets Under Management: $9090.3 billion versus the three-analyst average estimate of $8590.3 billion.
- Investment advisory, administration fees and securities lending: $3.50 billion versus the four-analyst average estimate of $3.43 billion. The reported number represents a year-over-year change of -8.6%.
- Investment advisory performance fees: $55 million versus the four-analyst average estimate of $93.41 million. The reported number represents a year-over-year change of -43.9%.
- Revenues- Advisory and other revenue: $27 million compared to the $38.82 million average estimate based on four analysts. The reported number represents a change of -41.3% year over year.
- Distribution fees: $319 million versus the four-analyst average estimate of $324.36 million. The reported number represents a year-over-year change of -16.3%.
- Revenues- Technology services revenue: $340 million compared to the $347.90 million average estimate based on four analysts. The reported number represents a change of -0.3% year over year.
View all Key Company Metrics for BlackRock here>>>Shares of BlackRock have returned +5.3% over the past month versus the Zacks S&P 500 composite's +7.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.