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.
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“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.”
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Source: Stock news
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