<p>BlackRock (NYSE: BLK) earnings for the first quarter of 2020 have BLK shares on Thursday. This is because the adjusted earnings per share (EPS) of $ 6.60 beat the Wall Street estimate of $ 6.39. The US investment company’s revenue of $ 3.71 billion is also higher than analysts’ estimates of $ 3.58 billion.
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Let us now take a closer look at the latest BlackRock performance report.
Adjusted earnings per share decreased slightly from the $ 6.61 reported in the first quarter of 2019. Revenue for the quarter is 10.75% higher than $ 3.35 billion from the same period last year. Operating profit of $ 684 million is a decrease of 44.39% compared to the previous year from $ 1.23 billion. The BlackRock revenue report also yields a net profit of $ 627 million. That is a decrease of 40.85% compared to its net profit of $ 1.06 billion from the same period the year before.
Laurence Fink, Chairman and CEO of BlackRock, said this about the BLK share performance report.
“The strategic investments we have made in recent years in key areas for growth continue to deliver. iShares ETFs have served as a valuable market technology as investors have once again turned to bond ETFs for transparency and increased liquidity in volatile markets. ”
The BlackRock earnings report does not include the guidelines for 2020. Still, we know what Wall Street expects. That includes an adjusted profit of $ 26.17 on revenue of $ 14.05 billion.
The BLK share increased by 3.91% as of Thursday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/04/blackrock-earnings-send-blk-stock-up/.
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