BlackRock's Q2 net asset inflows fall short
Blackrock Inc.
$1,032.50
04:39 22/11/24
0.44%
$4.50
BlackRock easily surpassed analysts' estimates for second quarter profits, but net inflows fell short.
The fund manager said posted quarterly adjusted net earnings of $9.28.
That compared to $7.36 for the same period one year ago and analysts' estimates for $8.52.
Net asset inflows on the other hand underwhelmed, coming in at a pace of $80bn, instead of the $109bn anticipated on Wall Street.
The firm's top-line reflected dipped by 1% to $4.46bn (FactSet: $4.47bn).