MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, January 21, 2009 BlackRock's Q4 Net Falls 84 Percent BlackRock's fourth quarter earnings plunged 84 percent as the downturn in equity markets weighed on AUM. The New York investment manager reported net income of $59.2 million or 40 cents a share. Analysts polled by Thomson Reuters expected it to earn $1.02 a share. BlackRock generated revenues of $1.06 billion, down 26 percent from $1.44 billon in the year-ago period. Investment advisory and administration base fees came in at $853 million during the quarter, down 21 percent from the third quarter due to the market-driven reduction in equity and balanced AUM. BlackRock ended the year with AUM of $1.31 trillion, down from $1.36 trillion at the end of December 2007 and up from $1.26 trillion at the close of September 2008. Printed from: MFWire.com/story.asp?s=20514 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |