BlackRock Inc. witnessed a higher quarterly profit, as market gains and new client money raised the investment firm’s assets under management exceeding $10 trillion for the first time.
The Q4 results were released on Jan 14, 2022. Analysts polled by S&P Global Market Intelligence envisioned a per-share profit of $10.22. The money manager in the fourth quarter recorded up to 6% from $1.55 billion and net income of $1.64 billion, or $10.63 a share, or $10.02, in the same period a year earlier.
As of the company records, $212 billion of quarterly total net inflows positive across all client types, investment styles and regions 20% increase in full-year revenue includes record organic growth, record performance fees and continued growth in technology services revenue. It also recorded a 16% increase in full-year as adjusted diluted EPS also reflects a higher effective tax rate, partially offset by higher non-operating income in the current year $3.7 billion returned to shareholders in 2021, including $1.2 billion of share repurchases.
The stock market boom has created an unquenchable desire for exchange-traded funds, which make it easy for traders to invest in many of the world’s top companies all at once which condescended as great news for BlackRock, the world’s largest money manager.
“We are probably the best-positioned organization in the world to meet those types of opportunities,” CEO Fink said. “If anything, I think that momentum is going to accelerate going forward.”
Nearly one-third of that $10 trillion total was invested in ETFs, many of which exist as passive funds in the iShares family that track widespread indexes like the S&P 500 and Russell 2000 as well as various sector funds.
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