In Q1, BlackRock achieved a record high of $10.5 trillion in assets under management

In the first quarter, BlackRock Inc (NYSE:BLK) achieved a record high of $10.5 trillion in assets under management, marking a notable increase of $1.4 trillion or 15% compared to the same period last year.

The investment firm also reported robust profits, with a significant surge of 36% to $1.57 billion. Earnings per share (EPS) witnessed a solid growth of 24%, rising from $7.93 to $9.81, surpassing the anticipated figure of $9.42 per share.

Revenue demonstrated notable growth as well, climbing 11% to $4.73 billion, exceeding the estimated $4.24 billion. This revenue growth was attributed to several factors, including the positive impact of market conditions on average assets under management, organic base fee expansion, and increased performance fees and technology revenue.


Laurence Fink, the CEO of BlackRock, highlighted the trend of clients increasingly turning to the firm to maximize the potential of their portfolios, contributing to industry-leading total net inflows of $236 billion over the past 12 months.

Fink further emphasized the company’s consistent growth in asset and technology services on a substantial scale, underscored by a double-digit increase in technology services revenue, a margin expansion of 180 basis points, and a remarkable 24% growth in EPS year-over-year on an adjusted basis.

Despite these positive financial results, shares of BlackRock experienced a modest decline at Friday’s open, edging down by 0.2% to approximately $784.

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