SCHD - BlackRock Q2 Earnings: ETF Boom Record Inflows And Private Market Drive Growth | Benzinga
Investment giant BlackRock, Inc. (NYSE:BLK) shares are trading higher after the company reported second-quarter FY24 results.
Revenue growth of 8% Y/Y to $4.805 billion, missing the consensus of $4.849 billion.
Investment advisory, administration fees, and securities lending revenues increased to $3.875 billion from $3.611 billion a year ago, led by positive organic base fee growth and the impact of market beta on average AUM.
Technology services revenue increased to $395 million from $359 million the prior year, reflecting continued demand for Aladdin technology offerings.
Related: BlackRock’s Aladdin Gets Smarter: $3.2B Deal Adds Preqin’s Private Markets Data
BLK stated that the net inflow stood at $82 billion in the quarter, resulting in a 3% organic base fee growth.
Laurence D. ...