2023-07-14 07:00:00 ET
BlackRock ( NYSE: BLK ) Q2 earnings exceeded the average analyst estimate as revenue from investment advisory, administration fees and securities lending increased from Q1 level and net inflows remained positive.
Long-term quarterly net inflows were $80B, with positive flows across client types and regions, vs. $103B in the previous quarter. ETFs flows were $48B, rising from $22B in the previous quarter.
Q2 adjusted EPS of $9.28, topping the $8.42 consensus, climbed from $7.93 in Q1 2023 and from $7.36 in Q2 2022.
BlackRock ( BLK ) repurchased $375M of its shares in Q2.
Revenue of $4.46B, beating the $4.45B consensus, rose from $4.24B in the prior quarter and declining from $4.53B in the year-ago period.
Total investment advisory, administration fees and securities lending revenue of $3.61B rose from $3.33B in the prior quarter and declined from $3.69B in the year-ago period.
Technology services revenue of $359M rose from $340M in Q1 and from $332M in Q2 2022.
Assets under management increased to $9.43T from $9.09T.
Q2 total expense of $2.85B compared with $2.81B in Q1 and $2.86B in Q2 2022.
Conference call at 7:30 AM ET.
Earlier, BlackRock ( BLK ) non-GAAP EPS of $9.28 beats by $0.86
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BlackRock Q2 earnings top consensus as ETF inflows improve