Categories AlphaGraphs, Earnings, Finance

BLK Earnings: BlackRock reports double-digit growth in Q1 revenue and profit

BlackRock, Inc. (NYSE: BLK) Friday reported a sharp increase in adjusted profit for the first quarter of 2024 when the asset management company’s revenues grew 11%.

Blackrock Q1 2024 earnings infographic

First-quarter adjusted earnings increased to $9.81 per share from $7.93 per share in the comparable period of 2023. On an unadjusted basis, net income attributable to shareholders was $1.57 billion or $10.48 per share in Q1, compared to $1.16 billion or $7.64 per share in the prior-year period.

Total revenue increased 11% year-over-year to $4.73 billion in the March quarter. Organic asset and base fee growth accelerated into the end of the quarter, and long-term net inflows came in at $76 billion.

“BlackRock’s momentum continues to build, with accelerating client activity and line of sight into the funding of significant wealth, institutional, and Aladdin mandates,” said CEO Laurence Fink.

Prior Performance

Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.

Most Popular

AZO Earnings: AutoZone reports higher sales and profit for Q3 2024

Automotive parts retailer AutoZone, Inc. (NYSE: AZO) on Tuesday said its third-quarter net sales and earnings increased modestly from last year. The company reported net sales of $4.24 billion for the

Infographic: Key highlights from Macy’s (M) Q1 2024 earnings results

Macy’s, Inc. (NYSE: M) reported first quarter 2024 earnings results today. Net sales decreased 2.7% year-over-year to $4.8 billion. Comparable sales were down 1.2% on an owned basis and down

Here are a few reasons why Beyond Meat (BYND) appears to be beyond hope

Shares of Beyond Meat, Inc. (NASDAQ: BYND) rose over 1% on Monday. The stock has dropped 18% year-to-date. The company delivered disappointing results for the first quarter of 2024 and

Add Comment
Viewing Highlight