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You are here: Home / Finanace / BlackRock stock heads toward another record after profit, revenue rise above expectations

BlackRock stock heads toward another record after profit, revenue rise above expectations

January 14, 2021 by Retirement

Shares of BlackRock Inc.
BLK,
+0.26%

rose 1.8% in premarket trading Thursday, putting them on track for a seventh-straight record close, after the asset manager, with $8.7 trillion in assets under management, reported fourth-quarter profit that revenue that rose above expectations. Net income grew to $1.55 billion, or $10.02 a share, from $1.30 billion, or $8.29 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to $10.18 from $8.34, and beat the FactSet consensus of $9.14. Revneue increased 13% to $4.48 billion, above the FactSet consensus of $4.27 billion. Total net inflows were $127 billion, and were positive across investment styles, product type and region, boosted by strength in its iShares exchange-traded funds and active strategies. The stock has rallied 21.9% over the past three months through Wednesday, while the S&P 500
SPX,
+0.23%

has gained 9.2%.

Filed Under: Finanace

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