BlackRock, Inc. reported first quarter earnings per share of
$3.16 beating the estimates of coverage analysts by $0.12. Assets under
management grew by 5% from the previous quarter, to $3.684 Trillion. Revenue
was in line with estimates, down 1% from a year earlier. BlackRock saw strong
inflows in the areas of iShares – Exchange Traded Products, multi-asset class
and alternatives. As asset classes gain momentum BlackRock remains well
positioned to take advantage of asset inflows.
During the quarterly conference call, BlackRock noted that
investors recognize the large amount of uncertainty in the investment
environment that lies ahead. Upcoming
elections in the U.S. and France as well as sovereign debt issues in
Europe are just a few examples. As these
tensions ease investors will move back into long-term investments with renewed
confidence. During the first quarter BlackRock began a large marketing campaign
with the goal of building the brand and the sediment that investors should look
at investing on a longer time line.
Our expectations are that BlackRock will continue to build
innovative financial products and create asset inflows. With a strong brand
image in place we are confident BlackRock has all of the necessary mechanisms
in place to have a strong second quarter.
-George Hoffmann
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