BlackRock Inc. (NYSE: BLK) reported second quarter 2020 earnings results today.
Revenue increased 4% year-over-year to $3.6 billion, driven by growth in performance fees and technology services revenue.
Net income grew 21% to $1.2 billion while EPS, both on a reported and adjusted basis, rose 22% to $7.85. The growth in EPS reflects higher non-operating income, a lower effective tax rate and a lower diluted share count.
Assets under management increased 7% to $7.3 trillion. Total net inflows amounted to $100.2 billion.
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