BlackRock (NYSE: BLK) reported fourth-quarter 2020 financial results before the regular trading hours on Thursday. The banking giant reported a 13% growth in Q4 revenue to $4.48 billion, surpassing the Wall Street consensus. The company reported an adjusted net income of $10.18 per share, better than what analysts had anticipated.
BLK shares gained 0.9% immediately following the announcement. The stock has gained 50% since the beginning of this year.
CEO Laurence D. Fink, said, “Our strategic areas of investment flourished in 2020 as we saw record client demand for active equity, sustainable, cash and alternative investment strategies, generated $185 billion of net inflows into iShares ETFs and surpassed $1 billion in technology services revenue.”
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