On Wednesday, April 13, the world’s biggest asset management company, Black Rock reported its first-quarter earnings ended on March 31. The net income is recorded at $1.44 billion in Q1.
The company has made a profit of $9.35 per share. The results have surpassed the expectations of analysts. The investment firm posted a revenue of $4.7 billion in Q1, revenue was $4.4 billion in the same quarter the previous year.
The company has generated $114 billion of quarterly long-term net inflows which is a big positive for the company. “BlackRock generated $114 billion of long-term net inflows in the first quarter, with positive flows across all product types, investment styles and regions, demonstrating the breadth of our asset management platform,” said the CEO Laurence D. Fink in a statement.
The company has also announced a dividend of $4.88/share. Today the shares of BlackRock opened 0.13% lower at $716 on the NYSE.
