Categories Earnings, Finance

BlackRock (BLK) Q1 2022 earnings rise and beat estimates; revenue up 7%

Asset management company BlackRock, Inc. (NYSE: BLK) reported an increase in first-quarter profit, aided by a 7% growth in revenues. Earnings also beat the consensus estimates, while the top line fell short of expectations.

BlackRock Q1 2022 earnings infographic

At $4.7 billion, first-quarter revenue was up 7% year-over-year. Experts were looking for faster growth. The top line benefitted from strong organic growth and a double-digit increase in technology services revenue, which was partially offset by lower performance fees.

Net income, excluding special items, was $9.52 per share, compared to $8.04 per share in the comparable period of last year. Unadjusted net income rose to $1.44 billion or $9.35 per share in the most recent quarter from $1.20 billion or $7.77 per share in the prior-year quarter. Total assets under management increased 6% to $9.57 trillion, while quarterly net inflows came in at $86.4 billion.

“As the world continues to face geopolitical and economic uncertainty, our investments over the years to build BlackRock’s all-weather platform position us well to advise our clients and help them pursue their long-term financial goals,” said Laurence Fink, chairman, and CEO of BlackRock.

Check this space to read management/analysts’ comments on BlackRock’s Q1 2022 results

Shares of BlackRock traded higher in the early minutes of Wednesday’s regular session following the earnings release, after closing the previous session lower.

Prior Performance

  • BlackRock Q2 2021 earnings
  • Blackrock Q4 2020 earnings


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