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Rating:Integrating BGI Cost BlackRock $52 Million in Q1 Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 26, 2010

Integrating BGI Cost BlackRock $52 Million in Q1

News summary by MFWire's editors

In the wake of the Barclays Global Investors acquisition, BlackRock's earnings and net income are on the rise, yet the deal is still costing BlackRock money. According to the first quarter earnings report BlackRock issued this morning, the firm spent $52 million in Q1 on the BGI integration.

BlackRock earned $2.40 per diluted common share in Q1 2010, up 196 percent from $0.81 in Q1 2009. Yet that fell slightly short of analysts' estimates of $2.45, according to the Wall Street Journal.

BlackRock's assets under management grew top $3.36 trillion on March 31, thanks to $8.9 billion in net inflows and $51.2 billion in performance gains. iShares alone brought in $7.1 billion in net inflows. 

Edited by: Neil Anderson, Managing Editor

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