Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:BlackRock AUM, Earnings Up Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 19, 2005

BlackRock AUM, Earnings Up

by: Theresa Sim

BlackRock beat analysts' estimates of second quarter earnings by one penny, reporting net income of $53.3 million, or $0.80 per diluted share. Net income and earnings per share were up 15% and 14%, respectively, from the first quarter of 2005.

BlackRock reported total assets under management of $414.4 billion, an increase of six percent from $391.3 billion in the first quarter, according to a release.

Mutual fund assets made up approximately 24 percent of BlackRock's total assets under management. Mutual fund assets barely budged quarter-over-quarter, suffering from $510 million in redemptions but gaining $543 million in market appreciation and acquisitions. Total fund assets edged up less than one percent from $99.14 billion to $99.17 billion at the end of second quarter.

Mutual fund revenue for the second quarter totaled $77.2 million, an increase of nearly 10 percent from $70.4 million in the first quarter.

BlackRock attributed the gain in assets under management to growth in BlackRock Solutions and advisory services.

"Our second quarter results reflect the strong growth momentum of our business across regions and client segments in both our core investment management franchise and in BlackRock Solutions®," said Laurence D. Fink, Chairman and Chief Executive Officer.

"The integration of SSR was completed with a minimum of interruption to our clients or our business efforts, and the benefits we are already seeing from that transaction should increase over time," said Fink.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use