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BlackRock (BLK) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2024, BlackRock (BLK - Free Report) reported revenue of $4.81 billion, up 7.7% over the same period last year. EPS came in at $10.36, compared to $9.28 in the year-ago quarter.
The reported revenue represents a surprise of -1.19% over the Zacks Consensus Estimate of $4.86 billion. With the consensus EPS estimate being $9.96, the EPS surprise was +4.02%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $81.57 billion versus the three-analyst average estimate of $86.43 billion.
Net inflows - Product Type - Cash management: $30.2 billion versus the three-analyst average estimate of $21.85 billion.
Assets under management - Cash Management: $778.04 billion versus the three-analyst average estimate of $763.01 billion.
Total Assets Under Management: $10,645.72 billion versus the three-analyst average estimate of $10,490.57 billion.
Revenue- Investment advisory performance fees: $164 million versus the four-analyst average estimate of $162.99 million. The reported number represents a year-over-year change of +39%.
Revenue- Advisory and other revenue: $53 million compared to the $60.22 million average estimate based on four analysts. The reported number represents a change of -5.4% year over year.
Revenue- Total investment advisory, administration fees and securities lending revenue: $3.88 billion versus the four-analyst average estimate of $3.91 billion. The reported number represents a year-over-year change of +7.3%.
Revenue- Distribution fees: $318 million versus the four-analyst average estimate of $323.09 million. The reported number represents a year-over-year change of -0.3%.
Revenue- Technology services revenue: $395 million versus the four-analyst average estimate of $400.74 million. The reported number represents a year-over-year change of +10%.
Revenue- Investment advisory, administration fees and securities lending revenue- Long-Term: $3.63 billion versus $3.62 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.2% change.
Revenue- Investment advisory, administration fees and securities lending revenue- Fixed income subtotal: $895 million versus the three-analyst average estimate of $905.44 million. The reported number represents a year-over-year change of +1.8%.
Revenue- Investment advisory, administration fees and securities lending revenue- Equity subtotal: $1.98 billion versus the three-analyst average estimate of $1.95 billion. The reported number represents a year-over-year change of +9.6%.
Shares of BlackRock have returned +7.6% over the past month versus the Zacks S&P 500 composite's +3.8% 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) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2024, BlackRock (BLK - Free Report) reported revenue of $4.81 billion, up 7.7% over the same period last year. EPS came in at $10.36, compared to $9.28 in the year-ago quarter.
The reported revenue represents a surprise of -1.19% over the Zacks Consensus Estimate of $4.86 billion. With the consensus EPS estimate being $9.96, the EPS surprise was +4.02%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: $81.57 billion versus the three-analyst average estimate of $86.43 billion.
- Net inflows - Product Type - Cash management: $30.2 billion versus the three-analyst average estimate of $21.85 billion.
- Assets under management - Cash Management: $778.04 billion versus the three-analyst average estimate of $763.01 billion.
- Total Assets Under Management: $10,645.72 billion versus the three-analyst average estimate of $10,490.57 billion.
- Revenue- Investment advisory performance fees: $164 million versus the four-analyst average estimate of $162.99 million. The reported number represents a year-over-year change of +39%.
- Revenue- Advisory and other revenue: $53 million compared to the $60.22 million average estimate based on four analysts. The reported number represents a change of -5.4% year over year.
- Revenue- Total investment advisory, administration fees and securities lending revenue: $3.88 billion versus the four-analyst average estimate of $3.91 billion. The reported number represents a year-over-year change of +7.3%.
- Revenue- Distribution fees: $318 million versus the four-analyst average estimate of $323.09 million. The reported number represents a year-over-year change of -0.3%.
- Revenue- Technology services revenue: $395 million versus the four-analyst average estimate of $400.74 million. The reported number represents a year-over-year change of +10%.
- Revenue- Investment advisory, administration fees and securities lending revenue- Long-Term: $3.63 billion versus $3.62 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.2% change.
- Revenue- Investment advisory, administration fees and securities lending revenue- Fixed income subtotal: $895 million versus the three-analyst average estimate of $905.44 million. The reported number represents a year-over-year change of +1.8%.
- Revenue- Investment advisory, administration fees and securities lending revenue- Equity subtotal: $1.98 billion versus the three-analyst average estimate of $1.95 billion. The reported number represents a year-over-year change of +9.6%.
View all Key Company Metrics for BlackRock here>>>Shares of BlackRock have returned +7.6% over the past month versus the Zacks S&P 500 composite's +3.8% 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.