Home Uncategorized BlackRock surpasses estimates by approaching $ 8.7 trillion in assets under management

BlackRock surpasses estimates by approaching $ 8.7 trillion in assets under management


Image source: BlackRock

BlackRock, the world’s largest cash management company, reported a stronger-than-expected fourth quarter, ending 2020 with a double-digit increase in both revenue and revenue.

According to her fourth quarter earnings report The investment company, released on Thursday, made a net profit of $ 1.5 billion compared to $ 1.3 billion and revenue of $ 4.5 billion, an increase of 13 percent over the last three months of 2020.

Per share diluted earnings in the fourth quarter were $ 10.02 per share, or $ 10.18 adjusted. Diluted earnings for the full year were $ 31.85 per share, or $ 33.82 adjusted.

BlackRock ended the year with a record high assets of $ 8.68 trillion, up 17% from 2019. About $ 2.7 trillion in assets under management are in BlackRock iShares (ETFs), which is 19% more than at the end of 2019. .

CEO Larry Fink said he expects this momentum to continue in 2021 as the global economy recovers from the COVID-19 pandemic.

“Our strategic investment directions blossomed in 2020 when we saw record customer demand for active capital, sustainable, monetary and alternative investment strategies, brought in $ 185 billion in net inflows to iShare ETFs and exceeded $ 1 billion,” said $ 20 million. Fink’s statement.

Will the toughest registered sanctions against Russia be enough?

“We are starting 2021 with a good position and intend to continue investing in our business to drive long-term growth and drive the evolution of the asset management industry,” he said. “At the same time, we continue to strive to help millions of people build savings over a lifetime by making investment easier and more affordable, promoting sustainable investment and contributing to a more sustainable economy that benefits more people.”


Source: Stock news

Share price data is provided by IEX Cloud with a 15-minute delay. Chart cost data is provided by TradingView with a 15-minute delay.

This article is first published on Source link

Previous articleNow Ultrasound Can Be Used To Diagnose Prostate Cancer? Find Out
Next articleIn the third quarter, Blackstone’s revenue grew 9% from strong asset sales