In the wake of the Barclays Global Investors
'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.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now