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BlackRock Finance (BLK) Reports Q3 Earnings: What Key Metrics Have to Say
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BlackRock Finance (BLK - Free Report) reported $5.2 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 14.9%. EPS of $11.46 for the same period compares to $10.91 a year ago.
The reported revenue represents a surprise of +3.93% over the Zacks Consensus Estimate of $5 billion. With the consensus EPS estimate being $10.42, the EPS surprise was +9.98%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 Finance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net inflows: $221.18 billion versus the three-analyst average estimate of $129.52 billion.
Net inflows - Product Type - Cash management: $61.01 billion versus the three-analyst average estimate of $37.08 billion.
Assets under management - Cash management: $849.39 billion compared to the $822.47 billion average estimate based on three analysts.
Total Assets Under Management: $11,475.36 billion versus $11,151.44 billion estimated by three analysts on average.
Revenue- Investment advisory performance fees: $388 million compared to the $179.91 million average estimate based on four analysts. The reported number represents a change of +454.3% year over year.
Revenue- Advisory and other revenue: $53 million versus the four-analyst average estimate of $53.73 million. The reported number represents a year-over-year change of +23.3%.
Revenue- Total investment advisory, administration fees and securities lending revenue: $4.03 billion compared to the $4.02 billion average estimate based on four analysts. The reported number represents a change of +9.5% year over year.
Revenue- Distribution fees: $323 million versus the four-analyst average estimate of $324.21 million. The reported number represents a year-over-year change of +0.6%.
Revenue- Technology services revenue: $403 million compared to the $409 million average estimate based on four analysts. The reported number represents a change of -1% year over year.
Revenue- Investment advisory, administration fees and securities lending revenue- Long-Term: $3.77 billion compared to the $3.74 billion average estimate based on three analysts. The reported number represents a change of +9.3% year over year.
Revenue- Investment advisory, administration fees and securities lending revenue- Fixed income subtotal: $940 million versus $938.34 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6% change.
Revenue- Investment advisory, administration fees and securities lending revenue- Equity subtotal: $2.06 billion versus $2.01 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.
Shares of BlackRock Finance have returned +8% over the past month versus the Zacks S&P 500 composite's +5.4% 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 Finance (BLK) Reports Q3 Earnings: What Key Metrics Have to Say
BlackRock Finance (BLK - Free Report) reported $5.2 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 14.9%. EPS of $11.46 for the same period compares to $10.91 a year ago.
The reported revenue represents a surprise of +3.93% over the Zacks Consensus Estimate of $5 billion. With the consensus EPS estimate being $10.42, the EPS surprise was +9.98%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 Finance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net inflows: $221.18 billion versus the three-analyst average estimate of $129.52 billion.
- Net inflows - Product Type - Cash management: $61.01 billion versus the three-analyst average estimate of $37.08 billion.
- Assets under management - Cash management: $849.39 billion compared to the $822.47 billion average estimate based on three analysts.
- Total Assets Under Management: $11,475.36 billion versus $11,151.44 billion estimated by three analysts on average.
- Revenue- Investment advisory performance fees: $388 million compared to the $179.91 million average estimate based on four analysts. The reported number represents a change of +454.3% year over year.
- Revenue- Advisory and other revenue: $53 million versus the four-analyst average estimate of $53.73 million. The reported number represents a year-over-year change of +23.3%.
- Revenue- Total investment advisory, administration fees and securities lending revenue: $4.03 billion compared to the $4.02 billion average estimate based on four analysts. The reported number represents a change of +9.5% year over year.
- Revenue- Distribution fees: $323 million versus the four-analyst average estimate of $324.21 million. The reported number represents a year-over-year change of +0.6%.
- Revenue- Technology services revenue: $403 million compared to the $409 million average estimate based on four analysts. The reported number represents a change of -1% year over year.
- Revenue- Investment advisory, administration fees and securities lending revenue- Long-Term: $3.77 billion compared to the $3.74 billion average estimate based on three analysts. The reported number represents a change of +9.3% year over year.
- Revenue- Investment advisory, administration fees and securities lending revenue- Fixed income subtotal: $940 million versus $938.34 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6% change.
- Revenue- Investment advisory, administration fees and securities lending revenue- Equity subtotal: $2.06 billion versus $2.01 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.
View all Key Company Metrics for BlackRock Finance here>>>Shares of BlackRock Finance have returned +8% over the past month versus the Zacks S&P 500 composite's +5.4% 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.